i've not found anything on this app, and thought some maybe interested in it. Portable App Creator. also check here. the author claims to have converted apps such as netstumbler which i consider impressive i've downloaded it, and looked at the code (it is open source), but have not tried it myself as i do things somewhat differently.
the good ~ seems to do the conversion for you.
the bad ~ it will only work well with a "fresh" install.
the ugly ~ like portableapp.com and their nisi installer you create and app that runs the converted app which waits for you to terminate it and then cleans up everything. in the case of nisi the added executable is about 35KB, but for PAC it will be over 200KB