I have a brother that used to work at a Toyota dealer and all too often he worked on Landcruisers with LPG that needed head work after only 50k - usually the bill would be over 2k. So basically all the money saved on fuel would be spent rebuilding the heads etc..
That said I've owned older cars (Holdens) that have run straight LPG and the engines have lasted forever and with good power too.
I think it depends on the car but I reckon if it's a car that gets 10-12 l/100km anyway then it probably doesn't make financial sense. With older cars (pre 86') I think it's actually an improvement and would probably do it regardless of the fuel savings.
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