The conversion is simple. There are three screw holes that hold either of the light or heavy bearings, and a center hole. You need to grind the center hole just slightly larger (easy job), and elongate grind the screw holes just a little bit; sort of make them oval, rather than round.
This is after the grinding, and refitting of a heavy platter bearing:
The amount of material removed is slight. A set of washers disguises the hole elongations. Yu can see the washers in the above image; those cover the elongated holes. The center hole is left exposed.
The heavy bearing is just slightly larger, and the screw mount holes just slightly wider diameter as well.
This is the heavy bearing. The light bearing is similar, but smaller.
On top of the mounting flange (which seats below the top plate), you can see a ring. You need to enlarge the center hole to fit that larger ring.
The advantage,.... rotational force inertia via added mass. Once to speed, it maintains speed more efficiently. This helps in countering needle drag in thick musical passages. The light platter is around 3.5lbs (forgive me, but its been years since I reviewed the numbers), and the heavy latter is around 8lbs.
A lot of Lenco enthusiasts double the platters to achieve an even greater rotational benefit. Mine is a double-stacked platter, but I used the original platter, with an MDF ring fitted inside of it to add mass.
A big advantage of the L55(B55) is that it already has a metal wheel, whereas the earlier models have a plastic wheel; so that saves you from that added expense. my B51 came with a plastic wheel, which I upgraded to a metal (aluminum) wheel.
The retrofit used to be on the cheap, but, Lencos have become popular in recent years, and the parts harder to find these days. They come up fairly regularly on eBay, and are available at
www.lencoheaven.net quite frequently as well ( a better choice, much like BarterTown here at AK).