Will a 504 distributor fit on a M?

Good morning!
Yes it should!
I have the 153 motor in a Super C and I used the C distributor which will work on a M.
 
It will bolt on and run. Advance set up is for a higher RPM engine than a M. Unless timing is set on the M with advance above TDC engine stopped or at a real low idle the timing will be slow. Then you will still have a small advance range from idle to full throttle. If still wanting a original M 40 degree advance distributor it will be way off.
One advantage of a 504 distributor is for custom tuning on some other engines is the advance limit hole can be opened up to give whatever top advance wanted and the advance springs can be switched around to change the intermediate settings.
 

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