M16 parts in a semi auto receiver are meaningless, just like an M2 slide, and sear in an M1 carbine are meaningless. Years ago, when I was an FFL dealing in LOTS of ARs and M16 stuff, I talked to a BATF agent that I knew. As far as Federal law goes, if the parts can be used in semi-auto also, and not cause it to be full automatic, it is legal.
The reason possessing an M16 hammer, selector, disconnector and trigger is not illegal is that they need a full auto receiver to make a machine gun. That is why BATFE allowed the M16A1 kits to be sold and built into semi auto kits.
The reason a complete set of M2 Carbine parts is considered a machine gun, is they can go in any M1 carbine, regardless of receiver and make it a machine gun. As I said before, however, just an M2 disconnector and M2 hammer in an M1 Carbine are OK.