No… current Roth limits apply to both contributions AND conversions.

BUT… the good news… the most recent changes to the tax code will lift the income limit for conversions from traditional to Roth in 2010. That means you can make non-deductible donations to a regular IRA now, and then do the conversion in 2010 assuming that the law does not change between now and then.

Also… IIRC… All of your non-deductible contributions will move into a Roth in 2010 tax free because they were after tax contributions.

Keep your fingers crossed that congress is too busy spending money in Iraq to close this loophole before 2010.