As part of migrating full CVS history to Hg, I've used cvs2svn to create an SVN repo in a local directory. It's first level directory structure is:

2010-04-21  09:39 AM    <DIR>          .
2010-04-21  09:39 AM    <DIR>          ..
2010-04-21  09:39 AM    <DIR>          locks
2010-04-21  09:39 AM    <DIR>          hooks
2010-04-21  09:39 AM    <DIR>          conf
2010-04-21  09:39 AM               229 README.txt
2010-04-21  11:45 AM    <DIR>          db
2010-04-21  09:39 AM                 2 format
              2 File(s)            231 bytes

After setting up hg and the convert extension and attempting the convert, I get the following on convert:

C:\>hg convert file://localhost/Users/terry/Desktop/repoSVN
assuming destination repoSVN-hg
initializing destination repoSVN-hg repository
file://localhost/Users/terry/Desktop/repoSVN does not look like a CVS checkout
file://localhost/Users/terry/Desktop/repoSVN does not look like a Git repo
file://localhost/Users/terry/Desktop/repoSVN does not look like a Subversion repo
file://localhost/Users/terry/Desktop/repoSVN is not a local Mercurial repo
file://localhost/Users/terry/Desktop/repoSVN does not look like a darcs repo
file://localhost/Users/terry/Desktop/repoSVN does not look like a monotone repo
file://localhost/Users/terry/Desktop/repoSVN does not look like a GNU Arch repo
file://localhost/Users/terry/Desktop/repoSVN does not look like a Bazaar repo
file://localhost/Users/terry/Desktop/repoSVN does not look like a P4 repo
abort: file://localhost/Users/terry/Desktop/repoSVN: missing or unsupported repository

I have TortoiseHg installed. For info, hg version reports: Mercurial Distributed SCM (version 1.4.3) This version of Mercurial seems to have some svn bindings if library.zip in the install is to be believed.

Do I need to do a checkout and point hg convert to it for this to work properly?