2 of 2 Answered question properly?

Edit: The short answer is that yes, they are interchangeable. As to preference, I don't really want to give my preference without having a reason for it.

So, the main thing that's happening here is that in the first instance, using is a verb representing an action, which is expected.

In the second, the noun "the use" is representing an action, which means that other things happen - its arguments as a verb become arguments as a noun, for instance - but essentially, but turning the action into a noun, you can refer to it later as "it".

I'd generally use the second, but I tend to write in more formal or academic registers. It really depends on your audience.