The axle isn't heavier (not significantly, it is similar in construction). It has bigger brakes though (which are heavier)
You cannot mount the m3/z4m rear diff in the non m subframe. It just doesnt fit. It has different mounting points and the diff is bigger, so you also cant swap the inner parts of the diff. The normal z4 has a 188k diff, the m3/z4m has a 215 diff.