Boyd declared he would not play while Burley remained Scotland manager after being overlooked again during the goalless World Cup qualifier against Norway in October last year.
McGregor and Ferguson were banned after making V-signs to photographers after being dropped for the Hampden clash against Iceland in April following a lengthy drinking session at the team hotel.
However, Scottish Football Association chief executive Gordon Smith has given the new manager licence to pick the pair.
McGregor has already declared himself keen to resurrect his Scotland career, while Birmingham midfielder Ferguson has revealed he will consider a comeback.
McCoist said: "From a personal point of view, as a Scotland supporter, I'm delighted because I want the best players to play for Scotland.
"I don't think we are particularly well off that we can knock back players that should be in the squad.
"I don't pick the squad and I certainly wouldn't envy the next man because it will be a difficult task.
"But, in that respect, I think he has got to have the option of picking the best players available to him.
McCoist has previously admitted he could not understand Boyd's decision, but he will continue to respect the striker no matter what option he chooses now.
"I haven't spoken to Kris about it," said McCoist, who marked the 20th anniversary of the UN Convention on the Rights of the Child with charity partners UNICEF on Thursday.
"Obviously Kris is a big enough boy to speak for himself. He will make his own mind up but I would be hopeful that, being one of the best finishers in the country, he would make himself available."
Boyd's Scottish Premier League tally stands just two shy of 150 goals as he prepares to face former club Kilmarnock at Ibrox on Saturday.
But Killie boss Jim Jefferies hopes his players have taken belief from their goalless meeting in August.
"It should give us a belief, even though that game was at home and you always have a chance at home," he said.
"We restricted them to few chances that day and posed them some problems and had the best two chances in the second half.
"We have to show the same sort of resilience and determination and if we get a few chances, then take them."