Except i'd then need to find a 3rd party to deposit my LTCs into, then convert to BTC, then rewithdraw, so i'd have to pay 2 party to get my BTCs. I figured that would be worse than paying 0.001 BTC.
Is there a cheaper way to go about it?
Regular BTC transaction fee is 0.0001 per KB, which comfortably fits one typical transaction. Exchanges typically charge more than that, but 0.001 seems on the high side. I would suggest to find an exchange that has lower withdrawal fees. Cryptsy is 0.0005 I think, there might be lower ones, but also keep in mind liquidity, LTC/BTC rates, and trading fees. Also consider whether your time is worth more than the ~0.30 USD you might or might not save doing it via another exchange.
No its indeed not worth my time, it just limit how often you can get paid out. (If you get paid every 2 days for 1mhs, thats 10%~ fee, if you get paid weekly thats 2.85%~ fee, etc) Thats just a hit for small miners.
Small miners are better off in one of the many other pools who charge 1% of your khs for the whole package(from your khs to multicoin to btc to your wallet), while big miners are best with a flat rate.
Personally i like to have the money on hand, if a quick opportunity or necessity arise, not having to wait for 2 weeks, or pay a huge fee.
So something of note for small miners. Nothing more, nothing less.