I also have the first version. Seems like I waited for YEARS for the passenger cars.
When they were coming out with newer Phantom versions, Lionel then made them with a traction tire. I sent for several of the newer trucks. I bought a second Phantom ( version 1 ) engine. I replaced the non-traction trucks with the traction ones. I then did a push - pull set up with an engine at front and rear.
It accomplishes what you've done but may have cost more. The 2nd engine cost me $168.00. I forget what the trucks cost. It was an easy swap.
Other than the dull interior lighting they move swiftly around my Atlas track.