Sure, that's the upgrade I've done to at least 7 of them, as long as you are certain it's the LED that's pooched. Replace the Luxein III with a Seoul P4.
I posted instructions including where to buy the bulb and thermal grease. Read my entry of 2007-11-13
http://www.attackpoint.org/discussionthread.jsp/me...
E-mail me privately if you have any questions.