T. O. Rodney,
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Is it possible to replace an older/vintage foot control with the newer electronic units.
Yes
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is it just a matter of rewiring the new controller
Yes
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or is it more involved.
Nope, just need to make the mechanical connection
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Electronics is not my best subject
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Mine either, but replacing a foot controller isn't a case of electronics, just basic electrical wiring.
The electronic controllers are generally two wire units just like the older resistance types. Some have screw connections, some you have to splice the controller's short pieces of wire into the end of the controller cord. Either way it's really very easy.
Joe