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So the Stormcast Eternals are perfectly sized terminators and with a few bitz here and there (like stormbolters, etc), I think they would make great Grey Knights. Get some large oval bases with rocky terrain and you can even make the Drachion cavalry (or whatever they are called) into some sweet Dread Knights. Two starter sets would get you all you need for a good sized army.

Has anyone thought of doing this or, even better, seen anyone pull this off? I can't find much on Google.

I Think that this is a good idea, but it would be a good idea to use different heads if possible, otherwise it just would not look right (in my opinion).

Found this online, it's a comparison between a converted Sigmarine and a converted GK:

https://eternalhunt.files.wordpress.com/2015/07/stormcast-inquisitor-scale-comparison.jpg

Looks pretty good, but you gotta shore up a lot of extra parts.

All the new release are for 40k they are sifi based not fantasy based. They are all very swapable