Mads Drøschler has released a new update to his free tool for converting V-Ray and Corona scenes to Arnold.
The tool supports V-Ray material, V-Ray 2 Sided material, V-Ray Light material, V-Ray Blend Material, Corona material. It also supports a number of map types.
Vray Materials:
Vray Shaders:
Vray Lights:
Legacy Shaders:
You can find the full list of features by visiting the developer's page.