OK, using a 1 million gate FPGA to replace a 7400 is
overkill, but it would work
--
Not if the FPGA isn't 5v tolerant.
It isn't very likely that a device produced in five years
will be useful as a replacement for 7400 series logic, much
less in 50.
We've left the days of logic level compatibility behind us
unfortunately. 3.3v logic is even disappearing pretty quickly
now, and that didn't last a decade.