At last night's SLUG meeting Scott Calvert asked how to restablish a part based on another template.  Example, a part was created based on Template A but it should have been based on Template B.  Instead of creating the part from scratch using Template B, I played around with different tools and found a way to transfer all the features from a part to a "new" part based on Template B.

1) Start a new part based on Template B.

2) Click "Insert", select "Part", and select the existing part

3) Make sure the "Break link to original part" is Checked at the bottom of the Insert Part Property Manager

4) Click the Green Check mark and the "part" will be insert oriented about the origin. By checking the "break link" box, all of the features of the part will be inserted and appear as if you built the model from this template all along.

You'll notice the features are placed in the folder "5048-2-22 Features3", there is no connection to the original part (5048-2-22) so simply delete the folder and the tree will look as if everything was done from scratch in the new part.

I'm sure not all features can be transfered so easily. Try it out and see what you get.