Had a serious conversation with a good friend about these kinds of things, we came to the conclusion that the big differentiator for a BT is whether or not he attended yeshiva.
Didn't seem to work for Mike.
כי ישרים דרכי ה' - צדיקים ילכו בם - ופושעים יכשלו בם
זכה - נעשית לו סם חיים, לא זכה - נעשית לו סם מיתה
Not sure how that's a reply to what I wrote.
Going to a yeshiva and engaging in intense, authentic Torah learning, as well as having the opportunity to be meshamesh talmidei chachamim (a term that is not easily translated to English) is an opportunity for one to mold his thoughts and hashkafos according to the Torah so that his commitment to a Torah lifestyle becomes firmly eastablished, and creates a foundation that one can build upon for the rest of his life. A BT who does not experience this is at a great disadvantage.
On the other hand, one can twist the Torah to suit his preconceived notions, judgements, and values, and in that case the Torah he learns simply becomes a tool to further his own ideologies, using his knowledge of the Torah to justify his positions in any way that suits him. In that case his Torah learning wil be detrimental as in the quote of the words of chazal above.
In short, going to yeshiva gives a BT a tremendous opportunity that he would not have had, but is by no means a guarantee, as evidenced by our friend mike....