So you've got an Xtemplate that you need to convert to the PHPTemplate format because you've found out that the Xtemplate has become a third rate citizen at Drupal.org? (many modules don't support Xtemplate themes anymore, Drupal.org doesn't consider it a "supported" format, and "theming" Xtemplates is much harder than with PHPTemplates)
Well, no problem.
With a little work it is relatively easy to convert your Xtemplate into a much more compatible, supported, and extensible PHPTemplate. In fact, there's a very good handbook page at Drupal.org about this issue which I came across and have used to convert several of my own Xtemplates.