Tom,
Remember what I posted earlier, and GregLocock also mentioned, regarding stiffness considerations. While A206 will have superior strength at ambient temperature, and possibly even at 125-150 C (I forget where it starts to degrade significantly), stiffness will be much lower, so deflection of gears, shafts, etc. needs to be considered.
Solidification for A206 will be different than cast iron, specifically the amount of shrinkage that will result. Definitely consult with an aluminum foundry on their ability to cast this alloy-- the 2xx series Al alloys can have problems with hot tearing.
You should consider the T7 heat treatment over the T6 heat treatment. T6 makes the alloy susceptible to stress corrosion cracking, whereas T7 is substantially better in this respect. Strength properties are only slightly worse, and casting soundness will probably have a larger effect (grain size, inclusions, macro and micro porosity, etc.). This alloy can develop very high strength and is used for making aerospace gearbox/transmission housings, so it is suitable for your application, just beware of using it in the exact same design as the current iron version.