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The original appears to be a ceramic bodied paper cap....Prior to the 80s those were common in across the line RF filter duty.
You could get away with the cap you've found (I often use normal 630V film caps), but modern standards call for a X or Y rated across the line safety cap.
AC voltage is rated in RMS which is basically set up so if you had a 120V light bulb it would reciever the same energy from 120VAC RMS as it would from 120VDC which was useful a century ago when some regions had DC power and others had AC. Peak AC voltage is the square root of 2 (or 1.414) times the RMS. Peak AC voltage (about 170V) is the max instantaneous DC voltage that the cap should normally see, but usually at least double that is used as a DC rating to provide a safety margin and help the cap run cool.
It's important to know that RMS should only be applied to sine waves...Non-sinusoidal waveforms need more complex math to get RMS values, and often don't measure accurately on most AC meters since most lack a true RMS measuring circuit.
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