The Colt 9mm SMG is a great weapon. If you are used to your AR controls the SMG is the same except for the longer stick mags. It should be second nature.
Now if you really want to compare the Colt SMG to a HK MP5, I find to favor the MP5, awesome weapon. Very reliable and very accurate if you practice. It can be configured in so many ways, it's really the top of the line as far as SMGs go. Unless you like .45 then take a look at the UMP, WOW. Is this a dept weapon? If not are we then comparing a HK 94 to a Colt 9mm semi? If that's the case then price is a BIG factor to consider. Go the COLT route. You won't be dissapointed either way. The HK 94 can also become the platform for a MP5 later down the road. (legally of course) Both will then appreciate, but the HK 94 may rise quicker in value.
Hell I am looking for a Colt 9mm upper right now as it is the cheapest way to get quality in a 9mm Semi. Carbine. If only I had that $3,000 though......