I've used the ones from Derrin (Brewers Hardware) but I'm also in the process of getting some of my own made. Basically, I'm doing without the 1/2" piece of pipe for the airlock/blow-off tube, changing the racking cane fitting for a ball lock liquid post, and installing one of his thermowells (those are sweet BTW)... I already have gas posts on my sanke kegs, so I don't need to worry about getting CO2 into the kegs to push the finished beer out. I also plan to get some made without the thermowell, just for transferring finished fermentations.
I'd say that for the majority of people, the setup as Derrin has made it, does the job. There's always going to be some that want to tweak something to make it different. In this case, I fall into the later category.
I also have a short pony keg that I started to cut the center, around the valve hole, but buggered it up. So, now I plan on having the welder I've been using clean it up and install a 4" TC ferrule, and modify a cap, so that I can use it as a fermenter without any difficulty.
Oh, and if you're just looking to install an airlock into a sanke keg, the large universal bung (NOT the one for Better Bottle carboys, the OTHER one) does it perfectly. Just be sure you push the bung all the way into the hole (jam it into the bung hole
) and it will seal up just fine.