Yes did this a few weeks ago in my friend's garage, the same $100ish ignition set. So far so good.
Before, the key could actually vibrate out while driving, everything was so worn. Also the turn signals did not self-cancel as all the plastic bits on the combo switch were also worn.
The new combo switch works as it should again, though I doubt this replica stuff will last 3 decades like the OEM Mazda stuff.
