I was once wondering the same. I know its lighter. Just and FYI, there are a set of 512M rods on ebay.
It should have lighter counterweights due to the titanium rods. That would mean the TR/512 crank can be installed in an M, but the M crank won't go in a TR/512.
Brian, I have the titanium rods and I wanted to mate them with the crank. Call me crazy (please don't do that it causes me to twitch), but I like the keep it normally aspirated and modify the engine to meet my goals. I will be redoing the diff. carrier too. John
If you have a look at Ricambi's web site in the parts books it shows both cranks quite clearly. The M crank has lightened counterweights due to the titanium rods. As I am told you can put the lighter rods on a crank designed for steel rods but not the other way around. If you have the Ti rods and can get an M crank for a reasonable price go for it.