If I may borrow a concept from "Hard Vaccuum" and slightly alter it.
Each ship has 8 markers. Front, back, left, right and all 4 corners. Each turn you move your ship according to these markers. For example,you have a 4 to the front and a 2 to the right, then each turn you move 4 units forward and 2 to the right.
You can add the value of your M-drive to one (or more if you divide the thrust) markers each turn. In the example above, if you have a thrust of 3 then you can add 3 to any marker. Say ahead. Now you have a 7 to the front and a 2 to the right. The next turn, you want to straighten out your direction so you add 1 of your thrust points to front and use the other 2 to cancel the drift to the right. Now you have a front number 8 and no others. So each turn that you don't change anything, you will move 8 ahead.
This could be done with 4 markers but it might make changing directions on the diagonal harder without some trig.
Now, obviously if there are numbers on opposite sides, you can subtract the lower from both. For example, a ship drifting left at 2 accellerates 3 to the right. You wouldn't want a 3 on onde side and a 2 on the other. You would just take 2 from both sides leaving a 1 on the right and nothing on the left.
Am I making sense?