I'm about to venture into the AK world and would like some feedback on the pros/cons of getting a '74 v '47.  It seems the forged AK (both '74 & '47) appear to be the most sought after given their price points and I'm leaning towards a forged AK.  However, I'd like the AK Gurus to weigh in.

Disclaimer:  The only thing I know about AKs is how to spell it.

Update:  Since my original post, I've since purchased two MAK90s...one's a Milled MAK and the other is a Stamped MAK.  The former being saved as an investment (it's Mint) and will remain as is...the latter being my "Beater".  I've stripped all the old furniture off...that Monte Carlo stock could gag a maggot...below are list of parts that have been ordered and should be here within a few days.  I'll be mounting an MRO on this once everything's put together.

MAK-90 SLANT CUT STAMPED RECEIVER M4 STYLE ADAPTER
Mil-Spec Buffer Tube & Castle Nut
Hogue Rubber AK Grip
MFT Battlelink Minimalist Stock
Arsenal AK Picatinny Quad Rail PR-01

Stamped MAK


Milled

I just started this endeavor as well. The main thing I have discovered is......I should have started a couple of years ago. LOL
More options then and lower cost.

The milled ones are heavier.  The stamped ones will out last almost anything and the 47s and 74s both have their own good qualities.  Short answer just start buying.  Arsenal, norinco and poly tech are all safe bets usually but you will have fun with this journey.

You missed the AK-74 bus by a few years. Milsurp 74 mags usually run $25+ now. They used to cost anywhere from $3.99-10 depending on if you bought EG bakelites, surplus Bulgarian, or "surplus" Bulgarian like the firebrick and tan mags. After market US and Bulgarian mags exist from $10-15 dollars but I believe they all lack metal locking lugs.

47 mags can still be had at a great price. Polish, Romanian, and other former combloc mags are regularly available for $10. The exotic stuff like waffle mags, bakelites, etc... start at around $40.

Ammo availability is pretty much the same and so is the price with 5.45 usually being slightly more expensive. From a rifle availability stand point there is alot fewer 5.45 options you have either Arsenal, kit builds, or older Romanian Sar-2s. This makes 5.45 guns a bit more expensive. For 7.62 rifles you have new wasrs, Arsenal, and various us made options like PSA, Atlantic Arms (kit builds), and Riley. All have decent-good reputations and the variety of manufacturers make the price range of a 7.62 gun more attractive at $500-$1200 vs $800-1200 for a 5.45 rifle.

Avoid Interordinance I/O and century's US made guns at all costs. They both show a problematic trend of very early wear and critical component failure.

Once you go to the dark side there is no going back... Because they are awesome.....

First ak rocking a wasr from Romania is not a bad choice. But check down the top of the gun and try and make sure the front sight, gas block, and trunnion are decently lined up.
But for the cost they are going for I would just pick up a arsenal or vepr.

I would just watch the EE and pick up a sgl or slr series from arsenal. They are really solid guns and worth the little bit extra coin. The sam series or milled series from Asenal are fantastic guns and if you are wanting to keep the regular stock they are a good choice. I haven't really seen any crazy advantage to the milled other then you can use it as a bat if the zombie apocalypse happens, they are just super solid.

7.62 vs 5.45
I love the 5.45! it is my go to if I had to grab one gun I would grab my ak105 sbr chambered in 5.45. It is light fast and runs like a beast. Only cons of the 5.45 series is that getting mags is pricy due to all the crap going on with importation same with getting good ammo. The wolf ammo and others ammo that is state side is fine just sucks when there is better ammo out there we just are not allowed to purchase it.

7.62 X 39... Hits hard and you can find it everywhere, mags are cheap, really a great round I have no issues with it other then it is a little heavier then the 5.45 when hiking it for miles.

Sorry for the crappy grammar and punctuation I typed this fast at work hope it helps a little.

For 7.62, a 2018 WASR-10. Centerfiresystems.com had the best price anywhere.(my 2017 WASRs were perfect)
If you're worried, Atlanticfirearms.com will make sure that there are no front sight issues, but it costs a bit more.
In terms of quality, my 2017 WASRs are equal to my  2017 Arsenal SLR-107. That was an unwelcome surprise, but it shows that WASR has really stepped up their game. If I knew that prior to purchase, I would have passed on the SLR-107.

I've owned several earlier WASRs that I sold due to lack of quality. They are very good now. Just my .02

I typically put Magpul handguard, grip and CTR, rifle dynamics adapter and definitive arms fighter brake. It makes a very nice package. The WASR trigger is identical to a Tapco G2, and it's nice out of the box. An ALG AKT-EL with auxiliary trigger spring installed and the disconnector tail cut off will make you love your AK.

Buy a new WASR.  Cheap entry point - better quality than they used to be.  Runs like a scalded dog.  They aren't perfect, but neither is anything else.

I prefer 74s, but they're hard to find now, and I bought my Russian and Bulgarian surplus mags when they were about $8 each on average.  You would have to pay more or get Magpul MOEs.  Rob Ski was impressed with the MOE, though - just saying.  So don't rule out a good 74 if you find one.

Magpul 74 mag stress test - https://www.youtube.com/watch?v=vCDY83y4VkA

For 5.45 ammo, you want SGAmmo.com.  I like Golden Tiger, but I've used Wolf Military too and had no issues.

If you want to get in the 74, there is a SEAK 74 in the EE right now for a great price.  SEAK( Special Edition AK) where group buys that started here and migrated to another AK board.  Built on demilled .mil AK parts.  I have one and it has been flawless.

for 47 there is a Maadi for sale at a good price too.

Thanks to all for the input, now the hard work begins...which brand to choose.  And as far as "missing the bus", the story of my life.

Thanks again Guys...really appreciate your input.

Winning

Noob question is WASR a brand or model? I read some stuff that they are bottom of the barrel before and no see them being compared to Arsenal which I understand to be good.  Are there two different generations/ manufacturers of WASR?

WASR is a model made by Cugir in Romania.

Updated...

Nice Find, you'll love em, hope you enjoy!, if you ever in Western NC/East TN, around the High Country we got some awesome shooting Ranges out here, always love seeing some AK's at the range!

Thanks...good to know; I've got a place near Linville Gorge.