I have 2 Ruger 10/22's, they are great guns, a lot of fun, and infinitely customizable. That being said, they will NOT give the same trigger feel and ergonomics of an AR, no matter what stock, grips, etc. you put on it.
I also have a CMMG conversion (the "old" style I guess, although I bought it recently). I have had problems with it. It worked well for the 1st 50 or so rounds, then I started having problems. I got a bad mag and had even more problems. The last time I went out it seemed to work better, so I'm hoping it just needed a "break-in" period. If I had to do it over, I would put that $130 toward a dedicated .22lr upper. Think about it this way - how many .22lr rounds will you have to shoot before the kit or upper pays for itself? How many trips to the range will it take to shoot that many? For me, the conversion and 500 rounds of bulk .22lr was about $150 vs about the same price for 500 rounds of the cheapest 5.56 ammo (AE XM193) that I shoot. So, I shoot 500 rounds of .22lr through it and the kit paid for itself, right? That's what I tell myself at least. A dedicated .22lr upper is about 3x the cost of the conversion kit, so figure 1500-2000 rounds of .22lr and the upper has paid for itself.