I'm sure it is doable. You would need the bracketry and linkages to mount the actuator to the engine and create a new wiring harness (which would be easier to do than make the other harness work). Would be best to find a junked car and get the wire connectors and all the hardware. The speed sensor and switch I'm sure are the same. I had looked into it in case I came across a car without cruise.

As far as the new style being more reliable, I doubt it is. I read threads on this site all the time with people having trouble with the newer style as well. It is usually the same problem for both systems: the amplifier. I have a 1980 with the vacuum system and, after I had the amp fixed, it works perfect. On another, I had to also change out the actuator. If you think about it, the vacuum system is what most cars had and still use today. In my opinion, it is not worth the effort unless you already have a complete newer setup that works and you can change with no cost.

If you need to repair your amplifier or actuator, check out

http://www.gdl-online.com/

They do good work and offer a warranty on their work. I have had two amplifiers repaired (different cars) with great success.