I've owned various subguns for the past 10+ years, but I've never had a rifle-caliber MG. Around 2000-2001, I nearly bought a converted AR15, but ended up buying a wedding ring instead (and I'm still happy with that decision, btw). Seems like at that time conversion guns were in the $4-5000 range, and factory M16s were a little more.
I've still always wanted to get an M16-type MG, but I can't really justify getting one at current prices. Realistically, the only way I would be able to get one now would be to sell my Uzi to help fund it.
The gun would be primarily used for general shooting / plinking. Knowing myself, an M16 would likely be used 95% in 9mm and .22LR, with only the occasional use in .223 or .300 Whisper. Even though I don't get to compete nearly as often as I'd like, one of my primary considerations is suitability for subgun matches. For competition use, an M16/9 would get me a closed-bolt gun that I can use with or without optics at KCR. (I currently use my Reising for this, but it's not exactly the ideal candidate - especially when you try to strap on some type of scope). It could also be used in both "Modern" and "Open" classes at other matches, such as ISSMC. I'm thinking the Uzi actually suppresses a little better than the M16/9, with the same can. They both sound pretty good with a Trident-9, but the Uzi sounds much better when both are shot with my Bowers CAC-45.
If I wanted a .45, I could more easily do this with the Uzi than with an RR M16. There are more options with a DIAS, but those cost a few thousand more than an RR. And I've already got a subgun in that caliber.
Advantages to getting the M16 are that the platform is very flexible. I already have a handful of uppers in various NFA & Title I configurations. I've already got a working 9mm conversion for my SBR with a number of mags. Rimfire conversions and magazines are readily available. Beta-C mags are available in 9mm & .223.
Disadvantages are that the majority of M16/9mms that I've seen were not 100% reliable. While I have shot a few that were excellent, I see a lot of them that seem to have issues. The last time I shot one, I was reminded that this is not the smoothest SMG to shoot. Granted, you can swap buffers and change the feel of the gun, but I recently put my 9mm upper on a friend's lower w/DIAS and it was... jarring. Not that the gun had any significant kick to it. But I would describe the recoil impulse as sharp and fast. Difficult to keep precisely on target without a lot of work. The Uzi is choppy, but even so is much more controllable than the M16/9, I thought.
I currently have a closed-bolt setup for my Uzi, and I have been able to slow down the ROF to where it is an acceptable rate. I can get singles with work.
But I'm still tinkering a little. I've also got a reliable topcover that I can mount a scope to, so I have the option of shooting both open and closed bolt, with or without optics. For SMG competition, this Uzi setup has nearly all of the categories covered (and I've got the Reising for "Classic" class). I also have a .22 kit for the Uzi with a number of magazines. The BDM mags seem to really help with the reliability on this one. It runs at least as well as most of the M16/22 kits I've seen.
So my question for those of you who have both is if you had to choose only one, which one would you keep and why?