Sounds like you would have to swap out all the gears....
Nope. The 2, 3, 4 gears are the same between M20 and M21. Only the input and the cluster are unique.
Year 1966-1974 Type: M20 Rings: Two Ratio: 2.52 / 1.88 / 1.46 / 1.00 / 3.11
Year 1963-1974 Type: M21 Rings: One Ratio: 2.20 / 1.64 / 1.28 / 1.00 / 2.27
Year 1967-1974 Type: M22 Rings: None Ratio: 2.20 / 1.64 / 1.28 / 1.00 / 2.27