Along with shapeshfiting, the 'conjure everything' quality of 3e dnd spellcasters gave them enormous power and versatility in many situations. When you get access to an entire bestiary, you tend to be able to achieve some truly game-breaking effects. While it's true that art assets could be re-used, making monsters work as 'pets' does take some design work in order the balance the results.
I think a more interesting option would be either a suite of well-tested conjurable creatures from the existing bestiary, or some kind of cusomizable conjured elemental that you could tweak when conjuring it to make it larger/smaller, faster/stronger, or posessed of other qualities.