914 - 42mm piston
911 - 48mm piston
You can. It would have to be an early 914 caliper. The reverse is true as well... a 911 M-Caliper w/o spacers will bolt to an early 914 strut.
I would imagine that one going 5-lug would be able to keep his/her early 914 calipers if they ran a solid rotor. This would retain the stock brake bias as well (about the only upside I see).
There's just not much of a reason to do either configuration. Both use the#31 pad size, just different pistons. I think DaveP ran into a guy in Toronto (toronto901) that had 914 calipers on his 66/67 911 and didn't realize it.