Daffy,
That's a beautiful Europa... play it in good health! My Elan Plus has the same circuit, except it has Jazz Bass pickups instead of MXY's.
As far as the difference between AXY and MXY pickups, don't let the size fool you... they both have the same size bobbins, magnet, and coil windings. The AXY's mold just has more epoxy~ and that's done mainly for aesthetic reasons (to look more like a Series I or II pickup).