I don't claim to be an expert on it but it's my understanding that on the old MCs the cylinder head exhaust ports are Y'd together somehow and putting a K 4V head on frees up the exhaust flow. To a large extent the head "bolts right up" but you're right that there's a fair amount of mod work involved for the timing, exhaust, etc....
Though not a common mod it's not that uncommon either.
Google on it and you'll find a fair amount of info on the topic.
(http://lh5.ggpht.com/_EhOejB9NOmA/SRPNWgX364I/AAAAAAAABaU/3R9Amj3nCgk/s640/24102008388.jpg)