There is no way an issue M16A4 (or previous versions) stacks up against an issue M14 past 700 meters.
I'll give the nod to the Knight's Armament M110 SASS, that weapon could stack up against the M21 / M25 - but no M16.
If the M16 were capable of giving the average soldier the ability to engage the enemy out to 700 meters then they wouldn't be re-introducing the M14 in the EBR configuration:
http://en.wikipedia.org/wiki/Mk_14_E...d_Battle_Rifle