Anyone here done one?    Any gotchas to pay attention to?

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IDK anything about Spikes GL.
Efile your Form1, it should clear in a couple weeks. Barrels are available from $325 and up.

It's not a grenade launcher.  It's 37mm and won't take a 40mm barrel.   I just want to be able to shoot anything out of it w/o worrying about the DD aspect.  Can't afford to play in the 40mm world right now.

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IIRC there is someone on here that DD a spikes and then had the barrel bored to 40mm.  Im still waiting on their m79 clone myself.

I have a registered 37mm.  Not a spikes, though.  I did it for the same reason as you.  Didnt want to worry about whether or not some type of ammo was AP or not.

I'll probably do it once Silencer Shop gets their EForm1s available again.    Honestly I probably want to shoot chalk the most but I've read to many debates on even that.    I'll do the stamp then I can play w/ other stuff too.

That would be me............I DD'd my Spikes HAVOC about 7 or 8 years ago on a Form1 because I had no interest in flares but wanted to load my own flaschettes, bird bombs, and use BeeHive rounds.  I load my own ammo and purchased a second 37mm barrel from Spikes that I had bored out to 40mm so I could use commercial BeeHive rounds but switch it back to original configuration when needed.  I used it a lot when I first got it as I lived in Utah and would go out to the Salt Flats where nothing burns.  Some of my explosive rounds (bird bombs) had a tendency to ignite organic material.  Since I moved out of Utah I have not found a good place (rocky non flammable area) to play with my homemade rounds.

Still a lot of fun and would not part with it for anything.  Was well worth the $200 tax stamp to DD it.

The beehive round idea is interesting...

The Beehive round that I have is aluminum and 40mm in diameter.  It unscrews to reveal 9 stainless steel "rifled" barrels.  Insert 9 each 22lr rounds in the barrels and put a shotgun primer in the base.  there is a steel ring with 9 firing pins attached that sit on top of the rounds.  When you screw the base on, cock the launcher and pull the trigger the launchers firing pin strikes the shotgun primer which drives the 9 pin plate forward and sets off all 9 22lr rounds at the same time.  Accuracy is pretty good.  You get 9 rounds printing in a circle with a diameter of 8" to 10" at 15 yards.  Recoil is about the same as a 12 ga shotgun slug.

I don't believe anyone makes a Beehive round with an OD of 37mm yet so that is why I purchased the spare barrel and had it bored out to 40mm.

I know about the beehive rounds.  Hadn't thought recently about the ability to do that though.   My next stamp when Silencer Shop gets their eforms going again is probably going to be my 37mm launcher.  Any idea what the cost was on the barrel through Spikes?   I'll have to see if I can get one from them.