My Shrike has been pretty reliable as well. Is it as reliable as my M60E4, its not. Then again other I don't think I have ever had a stoppage on my E4 when using Lake City XM80 ammunition.
I have also put a lot of effort into slowing my Shrike down and have found that at some point once you slow the ROF down to a certain point you start to compromise reliability as you get a link that is a bit tighter than the rest or a round that is slightly underpowered. Let it run at 800+ RPM or more and its happy and has plenty of rebound energy to strip cartridges.
One thing to keep in mind with your plan to run it on a M16 clone receiver is that (at least in my experience) the Shrike is really finicky about what lowers it will fit on. It seems most happy on Colt spec lowers and fits them like a glove. When I got my Shrike it would only fit on Colt lowers or an old preban Bushmaster lower out of the half dozen brands I had in my safe at the time.
If you try and put it on an Oly, EA, etc. you may be in store for removing metal from something (either the upper or lower). To add complication, the "webbing" on the rear takedown lug on the Shrike is thinner than a normal upper and at least one or two folks have posted stories about modding their Shrike uppers to fit a non-Colt RR and ended up with the rear takedown lug on the Shrike eventually shearing off.
Before plunking down $15K on a registered receiver, if you have access the receiver prior to the sale it I would make sure the Shrike upper fits without modification and/or be ok with potentially sending the whole thing off to M60Joe or the like to get the lower modded to fit the Shrike as you really don't want to mess with the rear takedown lug area on the upper based on others experiences.
I personally just ended up running my Shrike with a RLL and made minor clearnance mods to my custom host lower prior to molycoating it so the Shrike would fit.