Sometimes goes by Enviro-safe or Enviro-freeze. Several people in the Austin Z club have done it on their older Z's. I plan on doing it to my Z32 once I fix my other issues. I don't have any links right now because it's been a while since I researched.
This biggest misconception about R12a seems to be the flame point, and everything I've read from definitive sources is that its actually less flammable than R12 or R134a.