A TS125 can be modded to dust off TM125's but it really does depend on few things
1. mechanical knowlege (ie. - the cases will need to be split for some mods)
2. parts availablity (TM parts that is)
3. patience (because it won't happen anywhere near as quick compared to simply hunting down a TM instead)
4. you need to be a little fanatical about the TS125's in the first instance
the ingredients you will need are,
From , either a complete motor as it's a bolt in swap or a TM125 Cylinder/head, Gear clusters or donor bottom end, TM125 Stator and CDI, TM or similar pipe and a decent carb. The rest basically comes down to serious you want to be with it. Alloy TM wheels swap over as do early RM but then there in not an overly huge amount of weight difference between the steel or alloy. 21' front wheel is a little more desirable then the stock 19'. Forks if the steel lower jobs could be replaced with some later items from either a TM/TS/TF125/100 or whatever else has 30mm tubes. Replacing the headset for a TM item is purely asthetical as the TS items weigh less but don't look as trick as TM. TM clamps require some mods to the stops also in order to fit. TM pipe more or less bolts straight on as does cylinder/head/gear clusters/carb. The motors run best using a simple pod type filter so ditch the stock airbox. The rest is simply fiddling with little things to suit yourself. Not really a difficult thing to do but you do need the parts availablity
Keep in mind the TS125MX has been around in kit form 2 years longer than any TM125 so it really can be classed as a VMXer. If you wanted to race a Suzuki 125 in mx in '71/'72 the TS was the only available option.
this TS below has become my fav 'pre78 ride bike and is much quicker all round than the TM125. It may well dust off early case/reed RM125's also
I can't complain about handling as again, it feels quicker to ride then the TM. For mine it feels like the quickest piston port 125 I've ever ridden. I also own a TM125 and RM125B/C for comparison and it also feels quicker than the RM
I did utilize RM125S engine parts though not TM hence it's pre'78 not pre'75
Really does depend on the list of ingredients you have available. For most simply buying a TM is the better option but if you've some time for a project then the TS can probably be made into something a little better than a TM