i went from 26in conti xcs to a proper cross bike a couple of years ago and it is definitely quicker. It was noticeable in the last race that i did, but more so when the slippy gloopy mud that the mtbs were ok on started to get more sticky and the cross bike cut through it more. The bigger wheels also roll over horrid bumpy grass better (like a 29er)
I dont think that i would bother converting a mountain bike though, a lot of the 'advantage' to me is probably mental, and the fact that the bike is waaaay lighter than any of my mtbs (and doesnt stop due to the tarty red brake blocks i fitted).
Would probably be better seeking out some of the super skinny schwalbe cross tyres for 26" rims. They are a proper cross tyre and much faster / skinnier than even conti xcs.
Of course if the cash isnt a worry, go for it!