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The tool does the work when a developer upgrades to ASP.NET MVC 3 and moves to Razor. By using the Razor Convertor to do all the dirty work and using the Razor engine to create any new pages, all of your previous work, along with any new work, is ready for prime time using the latest technology.
There are a lot of free tools available for Visual Studio, so you may not be aware of Telerik's Razor Convertor. Razor Convertor is a command-line interface that enables developers to convert .asp files to cshtml file, and rewrites Views to the Razor syntax.