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1967 merc 120 Can I put a newer OD on this motor

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"I have a 1967 merc 120, with

"I have a 1967 merc 120, with a pre-Alpha OD. Bought the boat recently and OD came in a couple of boxes completely dismantled.I have all the major parts and think of rebuilding but this is a lengthy, very specific procedure. I have found locally an early 1980's Alpha 1 OD, on the same size engine, can I use this OD on my boat? And if so, do I also need to change the gimbal ring? The hydraulic system on the newer OD is differant so I know I need the newer pump and hoses, and also the wiring setup will need updated.Thx for any input"
 
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