Good question, and I don't have a answer, but I wonder if the belt path from the motor to the pulley is the same on both. If not, this could be an issue. I also know that the M models do not have a belt guide, as do the shifter models. This could also be a problem, as the belt goes slack it could pop off. On the M, the belt is tensioned to the clutch by a spring.
As for the compression release, just don't use it, and add a switch to ground out the spark, as is done on the late models.