This is a modified version of the Poly Component Marking Menu that ships with Maya. Basically it's a slim version with less Menu items to speed up the workflow and the menu behaves now more like it used to in older version of Maya. In addition I have modified the component conversion to actually switch to the right component mode after the conversion. This way the user doesn't have to manually change the pickmask after the conversion.

To install simply put this file in your regular Maya script folder (e.g. c:/Documents and Settings/USERNAME/My Documents/Maya/2010/scripts) and make sure you don't rename the file.