If you haven't looked at Patrick Halter's blog d20to3d6, and you're a fan of T1 The Village of Hommlet, you are missing out.
It's useful people in either of these camps.
I love Hommlet and I love GURPS!
Then you have stats for ghouls, Elmo, and thoughts on lower-point starting PCs.
Dude, I don't play GURPS.
But he's provided some really interesting ideas on how to present Hommlet vs. Nulb as bases.
He's got a nice diagram of the relationships of the various villagers.
He's got random encounter tables.
It's a really interesting project, with all the i's dotted and t's crossed, done right in front of you. It's not a fast-and-loose conversion, either, but one that stays loyal to both the source material and the GURPS ruleset. That makes me happy in both ways.
Either way, take the time to check out d20to3d6.