In 2009 I am considering converting $200,000 in a Rollover IRA to a Roth IRA (I'm 44). ?

I believe in 2010 you will be able to convert and pay the taxes over 2 years. You may want to wait until then. Also, do you meet the income limitations? Single contributors cannot make more than around $100,000. That will also go away in 2010. You certainly can convert part of it this year. Also, I think ( but am not positive check with an accountant) that you can pay the taxes out of the IRA itself--so you would have the tax money.