You almost certainly have the right replacement drive. You just need to double check that you have it configured correctly. I don't know the exact model you have (And I couldn't tell you anything about it without documentation.) Did your old drive use encoder or tacho feedback to the DRIVE (not the control). The encoder feedback is always nessisary for the control, but it is optional for the drive. An old analog drive usually will not use the encoder feedback, only a tacho. The new drive may only have the digital encoder feedback option, or it could have the other, or even the option of both. But I can't tell you what you have, and am not familiar with the product to tell you how to configure it.
If your old drives were not using any feedback, then they were likely using the back emf from the motor. Your new drive would likely still have that option, but I wouldn't know how to set it up. If the new drive has the option of connecting the encoder feedback to use as a velocity feedback, I would strongly recommend doing so. The encoder signal can be shared and connected to both the drive and Linuxcnc, to provide feedback for both.
So far what we are seeing in your tuning results seem point to the drive not seeing a velocity feedback. (or at least not having a tuned velocity loop.)