I built an upper fairly reasonably using a CMMG barrel, Del Ton upper and a YHM rail. I've got a Brunton 1.5-5x scope on it and it works well for me. My normal range is about 130 yards.
I've got a .30 cal can that on a 16" barrel is a bit long. I was swapping out FF tubes recently and made a mock up pic with approximately a 9" barrel. I like it!
I do have a 9mm can that should be approved soon I shot it on there a few weeks back and the weight difference is amazing. I want to SBR my BLK but will wait for a few range trips with the 9mm can to see how I feel. Thompson Machine said the Isis is ok with subsonic loads through a 16" barrel. Not for supersonic loads or a short barrel so if I do spend the $200 it'll always have the stainless SAS can on it.
When I forts built my upper I just swapped lowers and BCG with my 5.56 rifle. It ran fine but AIMSurplus had Spike's BCG's on sale for $100 so I went ahead and got one along with building a lower for the .300 upper. So yes you can swap back and forth but some folk will say the bolt/barrel will mate with each other over time and it's not a good idea to swap back and forth.
I will say when I first built it it was a bit skeptical but the more I play with the BLK the more I like it! I've picked up a Stevens 200 and have a barrel on the way to convert it. Ought to be some really quiet fun!