I sincerely doubt it. The resolutions are fairly different, as is the aspect ratio (I don't have it in front of me, but I can pull it tomorrow if you really need it).
Mainly, though, I suspect the real question lies with what your intentions are. Do you want to output video and record it on a PAL VCR? Or display it on a PAL television set? If so, I don't think you're going to have much luck rewiring the S-Video output and getting the PAL system to accept it.
I suggest you buy a copy of Videomaker magazine (don't waste time with their lame website) and check out the ads in pack that relate to NTSC/PAL conversions.