The Peco Electrofrog Turnouts out of the box work electrically because the point throw is way over scale to avoid shorting, therefore they are correctly wired if you run the correctly gauged wheels through them (around 14.4mm). Old Triang Hornby wheels would probably give trouble though. The NSW AMRA layout uses numerous Electrofrog Peco Turnouts, which have not been rewired (turn up to the open day and see for yourself). It's a non prototype specific layout and members run all sorts of wheels on this layout without electrical problems. I have actually seen more shorting from the frog area of Peco Insulfrog turnouts. Another reason to avoid Peco Insulfrog turnouts. Graham, there is more than one to wire live frog turnouts, the method you and I use is the better way to go but it is not necessary to convert Peco turnouts if you use DC and if your models are of recent manufacture they are OK for DCC as well.
Terry Flynn
DC control circuit diagrams
HO scale track and wheel standards
Any scale track standard and wheel spread sheet