The same would not happen that you can be sure of.
Centro was not in good shape way back when he raced Jakob. Jakob is also objectively much better than Burgin. 3:52 mile is a good time for a senior athlete. 1:47 is not I'm afraid. There are about 7/8 British guys running 1:45 right now and none of them could beat Murphy. Murphy handily dispatched the current UK champion at the weekend.
Murphy is in great shape right now. Your feelings are hugely misplaced.
There are some elites I'd agree with you on, maybe even someone as good as Nijel Amos because he's been struggling to find form this year despite his SB, but right now Murphy is looking good.
A 1:46 from a nearly 55s first lap is a different league to a 1:47 run in 52.6 then 55.
Burgin doesn't need hyping up. 1:47 solo in a championship final for a 16 year old is impressive enough. You don't need to say he would beat a 1:42 Olympic medalist who is in good form. It's silly.