Those guns had a faux flash hider that was press-fit onto the barrel. It appears to have the correct hard chrome carrier without a KAC emblem engraved on it. The bolt should be chromed as well. The barrel is probably absent of chrome lining.
I have read people in this forum saying they picked up SR-15 M4 s for around $1300 as well, and they got a good deal it looks like.
Those are cool and definitely collectible, but personally if I'm buying a KAC 5.56 gun, I expect them to have the E3 bolt.
The E3 bolt and the URX3.1 are the main reasons why I love the KAC 5.56 guns so much.
I have one in the safe that I picked up at the front entrance of the fort worth gunshow for $900 after the dust settled on the panic before last. I figured for $900 it was worth it even if I parted it out.