Whoa! I know what I wrote earlier was probably a boring read, but an M8A woofer is totally NOT suited for an S45! It's aluminum cone will ring like a bell and the shallow transfer function of the S45 crossover will never filter that out. The mids will certainly be horribly colored if you use that driver.
Also, the driver's Fs is not the sole determining factor of bass extension. It's determined by several driver and enclosure parameters, which is why I brought out that only a quality modeling program (like Unibox, which is great, and free), could be used to predict the low end response of a different driver in the S45 enclosure. Unless you want to sit and do the math and derivations, but why take forever doing that when Unibox is a free download? Let the computer do it!
If you're dead set on trying a modern driver, then download Unibox, learn how to use it and how changing Theile/Small parameters affect a driver, plug in the T/S parameters for the driver under scrutiny, make sure the OEM S45 crossover network will work with the modern driver's electrical parameters, see if you can live with what comes up, and pay attention to how smooth the provided response graphs are for that driver (response still won't look like exactly like that, because different enclosures cause different diffraction artifacts that affect the response, but the smoother it is to start with, the better. Baffle diffractions usually even out quite a bit in the power response as well).
It sounds like you're more a novice at loudspeaker design, so if I were you, I would just re-cone my drivers, or buy some from Martin first, if he has them. I've built quite a number of speakers, and while there's alot of guys out there who know vast multitudes (!!!) more than I do, I know enough to make decently educated design decisions. You'll waste alot of money if you just pick a driver that looks good and stick it in. Even when choosing a modern driver, you should abide by certain criteria if you hope to make a good choice.
There's alot involved in making a good choice, and while I don't necessarily completely agree with Martin that B&O already did everything to their fullest potential with a given product (not trying to argue Martin, just my opinion!), they've done their homework alot more than you or I or likely anyone else on this forum has.
I believe the gentleman who designed Unibox actually works for B&O now (Kristian Ougaard), coincidentally enough.
Anyway, I just want you to make an educated decision.
Jon