Should work good. Check your loading manual to see that after neck sizing down with '06 cases or neck sizing up with .270 cases, the shoulder of each will jump forward slightly upon fireforming to achieve .280 base to shoulder length. That should be no problem. One consideration for best results might depend on the case brands you are using. Considering Winchesters, Remingtons and Federals, due to case neck thickness, better results might be obtained by necking down with Winchester '06 cases or necking up with Remington or Federal .270 cases, thereby probably arriving at proper neck tension without neck reaming or neck turning becoming an issue (but neck reaming or turning may not enter the picture at all). However working case necks either way, either up or down, with available brass might work out just as well, never know until you try. It may be necessary to trim slightly after necking up with the .270s. Just use your. 280 sizer for the procedure. Perhaps size first with the decapping rod removed and then run the cases over the expander button with the decapping rod back in place. Overall there should hardly be any problem. Those who have actually done the conversion will provide more definite information. After sizing a case or two, make sure they will chamber before continuing. Note that a temporary secondary shoulder might form at the base of the neck when sizing down with '06 cases, thereby providing a good chamber fit for fireforming. Lubing the cases is advisable.
Since there is very little case forming to be done after the conversion, initial firing can probably be done with whatever starting load you want. Or reduce it slightly, just make sure that the rounds will chamber easily after bullet seating, ensuring that the case necks are not binding within the neck portion of the chamber.