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Colt been making M4's from the 70's?
This is why I really am looking at them over the BCM. But the BCM has a nice set up already.
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Colt was the originator of the M4 and a great deal more AR-15 variations that have come out over the years. They've been playing around with the design ever since they obtained the rights from Armalite in 1959.
As I said earlier they are roughly equivalent, and it basically comes down to the name you want on the side. If you want a Colt with a rail already on it there is a new SOCOM model floating around that comes from the factory with a quad rail already installed. I believe it uses a Magpul flip up rear sight though, so you would still have to purchase a carry handle separately if you want one.