Examining the 1974-1995 airhead BMW 5-speed gearboxes, I think it can be modified without relocating any shafts, by machining two new gears. The downside would be the loss of 5th gear. The upside is that there would be ample room for the new gears, permitting less complex gear design and a wide range of ratio options.
A question remains as to the suitability of the straight cut 4th gear as the new top gear. BMW gearboxes tend whine a bit in 4th gear. If money was no object, I suppose one could cut two new helical gears for 4th gear.
For my Daihatsu D950, a ratio of 1.41:1 for a new primary gearset along with a 2.91:1 BMW final drive would result in the following rpm/mph performance. At these speeds the engine is always operating below its rated horsepower at the rpm required for the indicated mph, suggesting this performance is possible while running the engine within the continuous hp/rpm range. The speed and fuel consumption figures are based on no wind lying on the tank formula (30 times the cube root of horsepower = max speed):
51 mph @ 2200 rpm - 180 mpg (British gallons)
56 mph @ 2400 rpm - 160 mpg
60 mph @ 3000 rpm - 139 mpg
65 mph @ 2800 rpm - 109 mpg
70 mph @ 3000 rpm - 100 mpg
75 mph @ 3200 rpm - 90 mpg
79 mph @ 3400 rpm - 81 mpg
81 mph @ 3600 rpm - 75 mpg
Even 70 - 80 percent of the above fuel consumption figures would be none too shabby!

