I hate to be a killjoy, but I see several major cons.
1. Ballistics suck. Unless you are using some exotic ammo, your fragmentation distance on the bullet is maybe 35 yds. Check the ammo faqs for specifics. You can hit things at a greater distance, but it likely will not have the desired effect.
2. Unless you just like the looks and are getting it for fun, you are way overpowered with the TA31. Since you said you are looking at this for CQB distances, why get a 4x optic? I am inferring a dislike for batteries and that is why you don't want an Aimpoint or Eotech. If that is the case, get the 1.5x Compact ACOG with a triangle reticle. You won't have too much magnification and it will be plenty fast on target in day or night.
3. Consider getting one of the pigtail gastubes that wrap around the barrel. Also, plan on having to tweak the system to get it to work right and plan on malfunctions if you switch ammo. With the barrel lopped off just past the gas port, lack of pressure is a problem.
4. Here are some quotes from www.isayeret.com, the IDF special forces website where the pic came from:
"Ever since its first introduction in 1987, the sawn off CAR15 was an immediate success within the IDF SF community. Not so much for its inherent concealment tactical advantage, but rather since it was a huge status symbol, especially since in 1992 the 14.5 CAR15 become the standard issue weapon in all infantry oriented units, including both SF and regular. So carrying a sawn off CAR15 not only meant you are a SF operator but it also meant that you are a member of one of the more prestigious CT units. The sawn off CAR15 was such a success that soon many high ranking IDF officers have adopted it, although they didn't had any actual need for the shorter barrel. Operationally, the sawn off CAR15 was used in various urban CT application scenarios, both covert and overt and. The weapon was such a smash hit, that many operators even used it for open field combat, regardless of its bad accuracy and limited range..."
and,
"Despite the good intentions behind its creation, the IDF home made sawn off CAR15 had one big problem. Like most infantry oriented aspects in the very unorganized IDF, the barrels' sawing project was done without a proper higher control and unified procedure. In the tests conducted by Colt before they began manufacturing of the Colt Commando, they found out that a 11.5 inch barrel length was the minimal M16 barrel length that still assured proper and reliable functioning of the weapon. Shorter barrel lengths would not allowed the building of sufficient gas pressure in the barrel, resulting in acute jamming problems.
Meanwhile in the IDF, the conversion of the CAR15 barrels wasn't done at one qualified armory, but rather in the SF units' own armories, often by untrained personal. The units' armors, unaware of Colt findings regarding the minimal required barrel length, and without any proper guidance, sawed off the barrel as they see feet, which usually meant all the way done to the front sight tower, resulting in sub 10 inch barrels. This over sawing of CAR15's barrel not only drastically damaged the CAR15 accuracy and maximum, which were less of a problem since it was due to be use in close ranges any way, but more importantly it caused the weapon to jam every now and then due to an insufficient gas pressure build in the barrel. The malfunctions problem didn't occurred to often, but during actual combat deployment one jamming in the wrong time and in the wrong place, might be very hazardous to one's health."
and
"While it was very popular in the IDF SF for more then a decade (late 1980's-late 1990's), currently, part from several samples still in usage by several CT units, most of sawn off CAR15 were taken out of service, due to their repetitive malfunction problems, and are no longer used by the vast majority of the IDF SF units. Even Sayeret Duvdevan operators, the past primary end users of the sawn off CAR15, no longer use the weapon. Instead the standard issue weapon for all the IDF SF units is the standard 14.5 inch barrel CAR15, often with a 1:7 twist heavy barrel allowing the CAR15 to fire the newer SS109/M855 ammunition (rather then the old non heavy 1:12 twist barrels that fire the M193 ammunition)."
I figure choices in firearm characteristics are highly subjective and while I personally see too many negatives and very few positives to such a short barrel length, go for it if you want to. As long as you know the facts and still want one, have fun! Thats what's nice about living in a free country!