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It is proposed to renormalize the exciton-state densities used in models for precompound decay such that the summed state densities agree with the expressions employed in equilibrium statistical models. In this way a close fit can be guaranteed between preequilibrium model calculations and the results of equilibrium statistical models for the evaporative stage of the reaction. The consequences of this proposal for the internal transition rates of the pre-equilibrium exciton model are analyzed. The matrix element for the residual interaction is obtained not from a phenomenological parametrization, but from the nucleon mean free path in nuclear matter. It is demonstrated that the proposed renormalization, from one-component Fermi-gas formulas to two-fermion expressions for the state densities, leads to strongly improved agreement of the effective exciton-model values for the nucleon mean free path in nuclear matter with realistic estimates. It is proved that the particle-hole state densities for a two-component Fermi gas, summed over the allowed exciton-state numbers, agree with the phenomenological state-density expressions used in statistical Hauser-Feshbach models.