http://www.renegadehybrids.com/main.htm
The conversion costs $8k not including car and engine. Then you have to get a 951 transaxle. I'd say it is a $13k proposition to do it right.
I wouldn't expect a well-sorted V8 944 to go for less than $7000. Plus it still has a lot of expensive Porsche parts.
944s are not cheap to maintain and never will be reliable transportation. They are, however, fun for what they are. That being said, I'd love to have a V8 944.