Howdy Terryst:
Steve and Slade have laid out some good guidence. I have just a few more questions. Is your goal to maintain stock performance? Was the "M" head installed as a performance increaser? Was the head milled to reduce the larger chamber? Are you just doing the head, or a complete rebuild?
The big differences between the two heads is that the "M" head has aprox 1,365 cc of volume, while the '79 head will likely be about 1,245cc. Both are larger volume then a stock '65 head which has about 1,100cc. Both will have a stock combustion chamber size of about 62cc as opposed to 52 in a stock '65 head. Either would have to be milled about .050" to maintain stock CR. The difference in gasket thicknesses would also have to be compensated for, by milling, to avoid losing Compression. The '79 head will have hardened valve seats and a 1.75" intake valve. The "M" head will have a 1.69" intake and no hardened seats.
Hardened seats would be necessary for hard driving, lots of miles. Not necessary for a weekend cruiser. The difference might mean that you will need to do a valve job in 60,000 miles as opposed to 150,000 miles, depending on your driving situation.
Greater intake volume would be helpful in high rpm, compnesating for a too small carb situations. Less volume might be better in low rpm use giving slightly better throttle response.
The difference in valve size between a 1.69" and a 1.75" intake valve would be negligible in low rpm, stock type application. A three angle valve job and back cutting the intakes would make a difference in the case of either size valve.
Maintaining stock, true 9:1 compression is very important and easily missed because folks don't take the time to measure and compute the actual dimensions. If you installed an "M" head on a '65 block and exchanging the stock type shim gasket for a composite, aftermarket gasket you will have lost a significant amount of power due to lost CR- even compared to a stock 200. Please reread the sticky post at the top of this forum for a detailed description.
There are the variables Terry. Now you need to decide what's best for you and your situation. You really need to set some long range goals and plan to spend what you need to, to get what you want.
Adios, David