The simple answer...no.
The negativity, explained:
It would be tough, and absolutely not a plug-n-play swap. The M44 has a couple of similarities to the E36 M42 that the E30 M42 does not...knock sensors and the fancy schmancy DISA intake manifold. The valvetrain is vastly different though, and probably has different fuel & spark maps due to the likely different flow patterns.
The M44 was an OBDII motor however, and all M42's are OBDI. Unless you go stand-alone, the cost involved in the OBDI swap would be horrendous, and would probably include custom chip tuning anyway ($$$).
Some hope:
Now, all hope is not lost. Before worrying about anything more, get the engine transplanted and working 100%. Some companies sell MAF converter kits, though they are pricey and require dyno time (even pricier). I am in the final stages of development on the 3rd generation of a MAF converter that is plug & play at a target price of about $250 (w/o sensor...those are usually $60-100 depending). Once I am satisfied that ALL kinks are out, I will feel right about selling some. I have been promising this thing for a long time here...I am going to get lynched if it is not done soon!!!
Anyway, keep us posted on the swap progress. The M42 in an E21 will sure liven it up a tad!