I have just proven the problem with the Owl's rope belt and the 100 mana charm.

If I let the game convert the items when I load the saved game the Owl's rope belt turns into plain rope with no charms and no bonuses. I was mistaken when I said it turned into a lucky belt. The lucky belt was in my inventory before.

If I say no to the question, the Owl's rope belt is OK. I was also mistaken in my previous note when I said it was clobbered whether I let the game convert or not.

I have a save with the belt in the chest in the Hero's House. Depending on which way I load it, I have the charm or lose it.

Does anyone at Larian want a copy of the save file?

Now I have a question. I had no items that were misidentified in that save, or nothing that came out better by letting the game convert. If I don't let the game convert existing items, will it still handle new inventory items correctly? Will it bug me with that convert query every time I load?