API only ever had one mic preamp design, and it would seem that all of the minor circuit changes made over the years; e.g. raise the quality of the input transformer, raise the ratio, bigger caps, bipolar caps, temp coefficient of caps, coupling/decoupling, output transformer lams, etc.; were simply "improvements" corresponding to improvements in available components and manufacturing processes. In the end, you have some sort of 1:8 or 1:10 mic input transformer with a similar overload level, a non-inverting 2520 op amp, and some interpretation (there have been several) of the quad litz-wound EI625 steel output. On the 212, as opposed to the 312 and 512, the o/p xfmr is shrunken, of course, as mentioned. Otherwise the differences are negligible.
Yes, it's a relatively easy and efficient starting point for a plug and play pallette of microphone preamps, at least in my experience, and especially considering the space and economy available to most "recording studios" at present.