Look for a pre ban Colt R6551 with a small front push pin (some had the large front screw). The R6551 is a semi auto M16A2 and they are the old Colt grey which would be correct for a early A2. The only 2 issues will be large fire controls and the R6551 doesnt have a bayonet lug. You could have adco firearms add a bayonet lug through. R6551's are usually found on the ee for around 1k. I have one and love it!
1981
The Colt model MT6601 Match Target HBAR rifle had been discontinued and no longer in production either last year or earlier but some new old stock are still around, look for the ones with small FCG pin holes which are made mid 2009 and newer.
Then look for a Colt M16A2 barrel assembly and swap barrels and you have yourself a nice A2 all Colt clone, or if you could find a complete M16A2 upper half then you just pin it to the lower which is easier than switching barrels.
The older Colt M16A2 upper half have Colt gray finish, I have it and it will not match the black finish of the Match Target lower, but if you don't mind the finish mismatch the older Colt uppers also are very reliable, no problems with mine.
http://www.coltsmfg.com/ShopOnline/tabid/62/ProdID/171/Default.aspx
If you are wanting a Colt that has a A2 roll mark, then you have to go a different route than I did, but if you just want to have a Colt A2 as easy as you can and you aren't concerned with the roll mark then go this route.
Keep an eye out on the EE or other online sites for Match Target Models. You can go with HBAR model or Target Model (which will have a Gov profile barrel). These have been going for less than $1000. I picked mine up a couple of months ago at a gunshow for $800 and there was one on the EE last month that was down to $700 before it sold (I almost bought just for parts).
Then like the others have posted either replace the barrel or get the barrel threaded. Barrels are on the EE fairly regularly at $200-250 range and you can always sell the barrel on the EE to make up some of the cost.
Most of these models will have the larger FCG pins and some will not be drilled for the front take down pin spring and detent since they used a pin with screw. As mentioned there are some of the late ones that have the small FCG pins and regular front take down but I was not able to find one while I was looking for my A2. If the lower is drilled for the front take down detent then it is a easy replacement, if not ADCO and others can do it. Not much you can do about the FCG pin holes but I am actually fine with mine the trigger is pretty good and if you have to have an after market trigger there are some good ones out there made for the larger pins.
Also some will have the half moon cut Bolt carriers and some of the lowers will have sear blocks pinned in. So if you get one with the sear block you will have to be careful if you switch out the BCG since a regular full auto BCG will not work with the lower.
And if you want to get really into the details then be aware that Colt used a solid black plastic buffer and a plastic butt plate trap door on some of these models . You don't have to or need to change these out unless you are trying to get as close as you can to a USGI A2.
I spent 2 months watching the EE and other sites before I found what I was looking for at a gunshow. Make sure you get good pics of both sides of the receiver to check for the sear block and the front detent hole.
Here is what I started with - $800 gunshow buy
And aftter changing the barrel out - $220 NOS Colt (sold the take-off barrel for $150, so have $870 into this all Colt)

Originally Posted By Alpha-Romeo3:
The Colt model MT6601 Match Target HBAR rifle had been discontinued and no longer in production either last year or earlier but some new old stock are still around, look for the ones with small FCG pin holes which are made mid 2009 and newer.
Then look for a Colt M16A2 barrel assembly and swap barrels and you have yourself a nice A2 all Colt clone, or if you could find a complete M16A2 upper half then you just pin it to the lower which is easier than switching barrels.
The older Colt M16A2 upper half have Colt gray finish, I have it and it will not match the black finish of the Match Target lower, but if you don't mind the finish mismatch the older Colt uppers also are very reliable, no problems with mine.
http://www.coltsmfg.com/ShopOnline/tabid/62/ProdID/171/Default.aspx
I was thinking about trying to hunt one of those down––I wasn't 100%, but that model seemed to fit the bill. I was thinking of pulling the barrel and replacing it with a FN A2.
Originally Posted By FA-Gunner:
That is exactly what I envisioned. Great looking gun!
I have 2 6551's and they are my favorite rifles.
I have a 6551 and it's my favorite rifle.
I used my MT6601 post ban configuration. I swapped out the barrel for a NOS Colt USGI barrel. Done.
My 6601 lower was drilled for the front take down pin detent even though it had the silly screw arrangement. $5 at the gunshow fixed that.
I bought a used Colt Sporter target off gunbroker for $800.
Bought a Colt SPII upper off the EE. Stole the barrel and large FSB and put them on the Sporter. Sold off the access.