The PS32 board is close to a direct replacement for either the 3V ot the 5V PS/2 board. The form factor is slightly different, and it needs a different heatsink. To replace a 5V board, you also need to replace the speaker. There are two versions of the PS32 board, one with 3V PS/2 connectors and one with 5V PS/2 connectors. They are otherwise identical in form and function.
All the connectors on the PS32 board match the connectors on the PS/2 boards, but they aren't arranged the same on the board. This occasionally requires a lengthening of a wiring harness, but most times they reach without modification.