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DX5 Controls

I'm new here, relatively new to bass playing, and have a limited knowledge of how the electronics work...that said...

I bought a rather old Ibanez SR305DX. The wiring is rather worn and there seems to be a problem with the EQ board...the OEM preamp (PHAT Control model #3EQ1PH1) is discontinued and unavailable outside of Denmark (I'm in Alabama) Can I replace with the 2nd generation PHAT II (model #3EQ1MC0007) and everything still work properly using the same DX5 pickups??

Also, if anyone has any other relatively inexpensive suggestions I'll take those too...