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Mercury 110 9.8hp ignition conversion

Popriveter

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I have a 1970 Merc 110 with a lot going for it outside of the ignition-strong compression, good fuel system, lower unit, clean paint.

However, it has the phase-maker Thunderbolt 2 ignition and all the wiring is badly deteriorating. I started removing the ignition components to rewire everything and have been offered a parts motor for dirt cheap. The parts motor is seized, but is a 1974 (or '75?) with a clean looking thunderbolt 4 ignition system.

All I can find regarding ignition conversion for these describes replacing the phase-maker ignition with the older, phelon ignition. Does anyone know if it can instead be replaced with the newer, thunderbolt 4 ignition? If so, are there considerations I should think about before committing to this path?

I greatly appreciate any input. I've been reading posts on this forum for a long time to learn from everyone's wisdom and this is my first time speaking up.
 
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