There's actually a very nice section on this board that deals with most aspects of full auto weapons, including the various means of legal full auto conversion and their pros and cons. I won't go into much detail, but the answers are right here on this board if any of you are really interested in learning a thing or two.
A converted gun is exactly that. It ain't rocket science guys. It's an AR type receiver or conversion device that was registered with BATF
prior to May 1986. There are as many different receiver conversions as there were "manufacturers". Back in the day, all you had to do was fill out a Form 1, mail it to BATF along with two hundred dollars, and once that came back approved, you could mill and drill your own full auto gun. Many individuals as well as gunsmiths did just that. Some of these are kitchen table Dremmel hack jobs, and some are beautifully milled and drilled. Legal semi auto conversion guns are usually referred to as REGISTERED RECEIVER or RR guns, and I'm certain this is what RDP was making reference to as a conversion.
At the end of last year, the market on most full auto guns seemed a bit soft and many RR M16s were selling for less than $10,000. Well, that was several months ago.... Prices have spiked again and I haven't seen anything selling for less than about $12,000 . A couple of new uppers on the horizon including a .22 beltfed upper that's now shipping and another American 180 drum fed upper that looks very promising may have helped push prices upwards. The multitude of simple and fast caliber conversions make this one of the very best full auto weapons available to the civilians IMHO, and the list of available accessories is mind boggling.
Other registered and legal conversion devices worth mentioning are the LL or lighting Link, which is the least desirable and least expensive full auto conversion method. The RDIAS or Registered Drop In Auto Sear is in most RKI's opinions a better option than a RR but also commands as much or more as a RR if and when you find one for sale. If you should suffer an OOB or otherwise KABOOM your valuable transferable receiver, you're potentially out a lot of money. The RDIAS is a simple devise that you can move from cheap host gun to host gun. Whish I'd bought one a few years back when I located one here in town for the then princely sum of $3,500. WAY to much money for a small piece of metal back then. It's very much akin to an H&K sear in size, price, and versatility. Hind sight is always crystal clear huh?
Locally, Dan Shea, at LMO had a M16 for sale recently.
www.longmountain.com/Nothing's reasonable in the title two world. If it is, I'll buy it on price alone. Chiz45 will verify that.