Converting your Traditional or Rollover IRA to a Roth does have an income restriction right now, your AGI needs to be under $100k (married filing jointly).  That income restriction would be eliminated in 2010 under the new tax bill.

Taxpayers who convert their IRAs in 2010 would be allowed to spread out the tax payments. Those who convert in 2010 wouldn't have to pay any tax on the conversion that year.  They would be allowed to pay half their tax bill in 2011 and the other half in 2012.

USAToday provides the details.

But if you're itching to call your financial adviser, put down the phone. You can't convert your IRA until 2010.

The Roth IRA provision is supposed to generate $6.4 billion in revenue over 10 years, offsetting some of the cost of extending lower tax rates for capital gains and dividends. But to meet certain revenue-raising targets in the bill, lawmakers postponed the effective date of the Roth provision, says Tom Ochsenschlager, vice president of taxation for the American Institute of Certified Public Accountants.