Quoted: I would pass on the bobcat for now. With all the CA DOC HK94s hitting the market, you could have a REAL German HK for a few hundred more. The German guns will always hold their value and you dont have to worry about dealing with cheap american made, reversed engineered parts.
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Even if you buy one of those HK94's, you're still going to have to spend a fair chunk of change to SBR it, as they have the 16" bbl's.
Also, last I heard, there were only a couple of these left.
The $1500 price tag for the Bobcat BW-5 FS already has the short 3-lug bbl installed, with all you having to do is a wee bit of work once your SBR paperwork is approved.
Also, virtually all reviews of the BW-5 rifles have been good, with only a few minor issues that are easily and cheaply correctable.
To properly SBR an HK94, you're looking at nearly $3000, if not more, with the $2000 price tag on the CA guns.