I really didn't mean for it to have the same function as a repeater - only in the regards of being able to send power through a block.
In regards to it being a converter - that would ruin it more than make it useful.
I don't see it as a neccesary item as such - just a neat, tidy thing. And cables cannot always be run under floors.
EDIT: That being said, I did not know about the construction foam. That stuff is neat. It doesn't entirely do what I was looking for, but close enough. Now I just have to rebuild my entire factory using that stuff
And it would be great if it worked with buildcraft pipes as well