For the most part yes. You will have an issue with neutral safety switch, and need to change the govenor pressure sensor, out of the VB. I think the cooler fittings might be different too. Are you going to buy a new 48RE unit? Unless you already have the unit, I would contact Dave Goerend 563-778-2719. Talk to about what you want to do he can probably rebuild your 47RE and make it rock!!