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can the IC in this circuit be replace with the normal Quad 2 input Nand gate

I want  to make a inductance meter circuit but i cant access the I.C in the schematic because the electronics store near me that sells NTE parts, dont have it. I was wondering how much different will the circuit operate if i use a quad 2 input nand gate.
 www.armory.com/~rstevew/Public/TestEquip/IndMeterAdapter.htm

What are you proposing to use instead-  LS series ? 

Steve