MKIII improvements in my book are improved head steady, stiffer swing arm, easier to use handlebar swiches, adjustable ISO's (nice to have but not a must have) . Kickstart arm that doesn't hit the mufflers.
Things I don't like are sloppy shifting (very vauge and cross over shaft splines wear quickly). World's ugliest air box. Much more complicated wiring and those little multi pin plugs that easily corrode, headlight stuffed with wiring. Starter that doesn't unless upraded. Fragile starter clutch. Horrendous noise from primary when starting. Seat hinge breaks. Ugly black cap mufflers. Rear disk locks up too easily.
And all Commando's need the 13mm master (front only).
Give me a '73 or '74 850 with a 200 watt stator and an Alton starter
kit anyday. Why Alton? You can keep your "ham can" air box and it comes with a higher output alternator at lower revs.
I have a nice MKIII for sale right now. Check Robbins Classic Motorcycles for more info.
https://robinsclassicmotorcycles.com