A GREASEGUN? You've gotta be kidding me. Those things were POSs from the beginning, and were mainly intended for sticking out the turret of a tank to hose the enemy infantry (i.e., "crunchies") off of your tank. To compare this gun to an MP5 clearly shows a lack of experience with either.
Fragmentation range from a 10" barreled AR with 77gr ammo is about 10-15 yards. That's acceptable for a few limited types of work, such as VIP escort or in-building CQB while the OUTSIDE of the building is surrounded by guys with longer-barreled guns, but, like the MP5, it's much more of a specialty weapon than a general-purpose one.
And, when considering YOUR gun, remember that you probably don't have a company of other trained soldiers to watch your back, so you should be focusing on more general purpose items than on limited, special-purpose ones, at least for your primary weapon. For range toys, heck, get a 7" AR if you like! [:D] Just don't forget your ear protection!
-Troy