Well... after years of wondering if this was possible, I have to say that your solution was about the most painless process imaginable Brundlefly. Thank you.
I have a project that I started on a different soundcard that didn't support 88.2 (my chosen, daily sample rate). The audio was nearly all scratch takes, but there was a ridiculous amount of synth programming, automation, tempo maps, some V-Vocal clips, plenty of fades, etc etc.
It took all of 2 minutes to open R8Brain, suss out what options I needed and successfully convert the project without so much as a manual (including the actual time that R8Brain needed for conversion). The next time this process is needed in my world it will require 10 seconds of clicking and 30 seconds of a bathroom break while R8Brain does its thing.
And every last edit / automation / midi performance etc is perfectly in place. I could believe that certain processes might not play nice and translate, but I'd like to see a definitive list of what these are. Sonar did complain that a corrupt audio region was found and padded with silence, but I examined and listened to every clip with a microscope and could find no affected regions. This warning disappears after saving the project.
I have to agree that this should be a sticky - I've found multiple posts insisting that project sample rate conversion can't be done, or that its problematic and a royal pain at best. The troubling part is that these posts span from a decade ago to very recent - lending credence to the idea that its something best left alone.
Realistically, I don't see why this feature isn't integrated into the core application. If Sonar is basing its project sample rate on the files it is loading (which it very apparently is), a Convert Sample Rate Wizard seems a minor endeavor (and very useful!).