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So does that mean the M16A1 is over gassed or the M16A2 is under gassed?
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Define over gassed and under gassed, with your understanding of what each is.
Here's my understanding. Under gassed would have the rifle malfunctioning on a regular basis, or, all the time. The action would be short cycling, failing to pick up a round from the magazine. Ejection would be "weak" or "limp", having the empty case barely fall from the ejection port, or not at all. Thing is, just because your rifle is exhibiting these symptoms doesn't mean that it is under gassed. The rifle could be suffering from some other problem/problems.
Over gassed would have the bolt carrier traveling at an excessive speed, possibly causing the brass to be thrown to the 1-2 o'clock position. That may depend on if rifle in question has a Brunton bump. Recoil could be particularly harsh compared to a rifle that is gassed correctly, all other things being equal. On and on and on..........
So, is this discussion hypothetical or do you have a rifle exhibiting problems? Most people wouldn't give a thought to the gas system assuming everything is working. Does the bolt lock back after the magazine is empty? Is it ejecting brass and picking up another round, etc, etc?
You can always change recoil springs, buffers, bolt carriers, to fine tune the entire system to your preference. As a final thought, I would say that Colt erred on the side of over gassing. That would ensure the rifle functioning under adverse conditions such as being dirty or weak ammo. Probably safe to say that most manufacturers of AR style rifles/carbines have done the same thing.
These are mostly my thoughts, and YMMV