no that engine is a ps 2 3 volt board! and as far as the kits concerned is you can purchase it from mth for $169.00 plus shipping if you join there premier or railking club there is a feed then you get kit for the above price, otherwise it cost you 199.00 plus $18.00 shipping!
p.s I have ps2 3volt board if you would want me to replace it and not have to buy the kit! the board would still be ps 2 3 volt and much cheaper then buying the kit especially if your paying someone to upgrade it for you! I'm in new jersey too!
Yes the board would be cheaper!
Alan