And yes, the ship that was converted was the Exmouth, into the RN's first all gas turbine warship - and I will do that version. Overall, I've sort of got to like this ugly duckling, having pored over numerous photo's and books I've acquired a grudging respect, and it does make a change, when we can't argue the pro's and con's of 20-in guns
I understand Exmouth was actually quite the hotrod of a ship.
Fun fact: she had the same turbines as what pushes the Vulcan through the air...and the Concorde
The USN went through a similar postwar struggle to come up with a truly worthwhile austere and mass-produceable ASW escort, ultimately just sort of giving up on the problem. As you say, hindsight is indeed 20/20, and we now know that the ASW problem was evolving in a direction that made ships like this of dubious value and, worse, not amenable to upgrade in a useful direction.
As you've said, the biggest problem was that the machinery and especially the gearing wasn't necessarily cheaper nor conductible to mass-production no matter how much they try to reduce it. The Garcia, Knox and of course the OHP classes actually turned out to be useful hulls for other than just ASW convoy escort.