The requirements for a composite/graphite HG are much more relaxed and in one respect its needs differ from the MHG's requirements. For the most part if everything checks out fine as detailed in the TSRM for inspecting the cylinder head and block the you are fine to use another composite HG.
BUT, as these are old blocks the likeliness of significant pitting of the block's deck is quite high and may require machining to cut past it in order to get a sure seal. Also you'll want to get the head machined as it will have impressions from the old HG and you'll want to be rid of those. While it's out I recommend you have the shop inspect for cracks and proper sealing and replace the valve stem seals.
The difference I mentioned is that when using a composite HG it's generally accepted that you do NOT want the mirror finish which MHGs require. A little texture helps the head and block bite in and provides more surface area for sealing.
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