The IGES conversion works, however keep in mind that the imported IGES file is a 'dumb solid' - that is, you can't modify any existing geometry. Addition of features is generally doable, but sometimes questionable depending on your desired references.
Bottom line is that if you choose to go this route, you are creating a snapshot of the model in that particular state. So, it's usually only beneficial if you do ALL of the design work for a part on one or the other, then export it after you are done and sure that you aren't going to need to change it any more.
Recneps