The 4612 has a 2404H-1 in it, which is basically a 2404 with a 2402 (075) diaphragm in it (I think there are very slight differences in the phase plugs, also, but not 100% on that). They did that so the diaphragm could survive the unusually low crossover point in that design - assuming it was used in a touring or installed application. Used in a home, you could likely get by with the D16R2405.
The El cheapo aftermarkets are pitiful, based on the reports of others who bought them and couldn't understand why their tweeters sounded awful. That's why I asked about the goal. If it's to get them making sound to sell, use the El cheapos. If it's to listen to them, get JBL - they've recently had a significant price reduction. No experience with Peavey, and I've never heard of anybody using them.
I own 4612OKs FWIW.
http://reconingspeakers.com/product/jbl-2405-d16r2405-diaphragm/