Forged, any day, will be stronger on a lower. Why? The weakest part is the buffer tube ring at the rear of the lower. Here, the forged lower has a flowed grain structure optimized for the area.
Hogged out of bar stock, the grain of the metal is like that of straight-grained wood. Entirely wrong for the part. With good quality 7075 aluminum, you can get away with it. But how many are actual Kaiser/ALCOA/Renyolds with Certified Mill Test Reports? And how do you know the grain direction? You are at the mercy of the machinist who may or may not know about aluminum microstructure.
Now let us look at the typical Mill Test Report for aluminum. Firstly, there is the chemical analysis. This tells us the alloy. Then there is the temper designation. We want T6. No need in having to send it out for heat treat as then more testing. Then we have tensile testing.
Now for the fun part. Tensile testing. This part of the MTR will have at least two, if not three tensile specimen axes. Not the Paul Bunyon tree felling implement but the direction in which the samples are loaded. There will be specified minimums, yield point, enlongation and ultimate tensile strengths reported. For sheet products, there is typically only two tensile coupons and a shear but for plate/bar, there can be three tensile tests. Since the lower is subjected to triaxial stress with associated moments, it would be a good idea to insist on knowing these properties.
But in a forging? Part of the quality process is complete tensile testing of the rough forging and sample coupons have been taken from a representative part.
Since non-destructive testing on aluminum is limited to RT/UT/PT and all but PT are specialized practices, buying a receiver hogged out of bar/plate is a gamble. I would suggest a copy of the mill test report.
And despite the over misuse of the term "billet". I continue to call these plate machinings. Why not billet? Because a billet is a raw mill product without any wrought processing. Billets are technically CASTINGS and not what the machine shop or even forging plant uses as raw material. Forgings are made from BAR STOCK which is a wrouught product form.