It's usually good enough for M20 guys to cool the engine, so I would think it should do the trick for the M42.
However I have no clue if the radiator bolts in directly without changing the bottom mounts, but I think you can retain the stock M42 rad. support. Try mocking the M20 radiator up in place of the M42 one.
Have you thought about trying an E36 radiator? That also has the built in reservoir, however it is definitely wider. Good luck with getting it back on the road, and glad you kept it on the track!