Here is the 1972 Floating Heads and you can see that the 1971 team picture was used. Did the Cubs issue more than one version of the team photo in 1971? If so, which one did Topps use?
Yes and last.
I've found two versions of the original photo.
This is the early edition.
And this one is the later edition. The identifier for me was Burt Hooton. He joined the Cubs straight out of college, in June, 1971. Since he's missing from one picture but on the other, that makes the top picture the early edition.
When you look at the late edition and the Topps card side by side, you can see that they match.
And who are all the players? This time there are pretty nicely defined horizontal rows, so the players are listed by the rows, from top to bottom:
Row 2: Brock Davis, Phil Regan, Glenn Beckert, Leo Durocher, Ron Santo, Jim Hickman, Billy Williams
Row 3: Burt Hooton, Don Kessinger, Joe Pepitone, Bill Bonham
Row 4: Joe Amalfitano, Ernie Banks, Joe Decker, Peanuts Lowrey, Mel Wright, Al Spangler, J.C. Martin
Row 5: Hector Torres, John Callison, Paul Popovich, Ray Newman, Ramon Webster, Chris Cannizaro, Hal Breeden,