I'd first ask your local authority whether it's permissable, before worrying about whether it will work. It shouldn't save you more than a couple hours labor, and maybe $100 on the case, though, as long as the new box has entry holes in the same places.
Sounds reasonable. A few years ago I replaced our 100 Amp late 60's Federal Pacific panel with a 200Amp SquareD Q0 panel. Even with the "free" labor (I did the work myself), the cost was about $500. A neighbor paid about double that to have it done. This was in central Ohio.
Mike O.
It's still a hack job. Any electrician worth his salt can remove the old panel and replace it with a new one instead of gerry rigging an old panel. You should seriously consider finding another electrician. Retrofitting that old Wadsworth with Sq.D guts will NOT meet NEC. That $600 is probably about half the going rate.
What part of NEC doesn't it meet, if you don't mind answering?
Articles 110.2, 110.3(A)(1), 110.3(B)
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