Yes you can do conversions with the 22,23 or 27. I have a 23 with conversion barrels for both 9mm and357 sig. Look for lone wolf barrels. They run around $125 a piece. The nice thing is that 40 and 357 use the same mags just different stamps on them. So no need for new mags. A couple of 9mm mags and you are good to go..
In terms of performance, I have not seen any difference. I even use "light" 9mm reloads for some cheap plinking and have had no problems!