It makes sense to convert any distribution from an IRA into a Roth IRA before spending *IF* you think the stock market will continue to rise, AND you have a long-term investment horizon. If you're planning to buy rental properties / real-estate with the proceeds, then it may make sense to withdraw immediately. If stock market investment is in your future, then convert. Converting to a ROTH is NOT a magic bullet - it keeps the principle & growth AFTER conversion 'tax-free'. But by converting, you've already paid taxes on the conversion amount.
For a 60 year old investor, they have potentially 30-40 more investing years in their future. Will the market rise in that timeframe? Historically, yes, ~10%/year.
In the example: 60 year old pays taxes on the GROWTH (above their original contribution) amount in the conversion/withdrawal at their regular-income-tax-rate. Assume the 25% bracket. Assume they have $20K to convert/withdraw, and 50% is from earnings growth. They pay $2,500 in taxes, and have the remaining $17,500 available to spend or re-invest. If they're going to re-invest *in the stock market* anyway, conversion to ROTH makes sense. If they're going to buy real estate, (or - gasp! - spend the money) then withdrawal might make sense. You're the only one who knows your situation, so this is a hard question for anyone else to answer. There is no right answer for everyone.