I am sort of in the same dilemma (check my post in the pistol & rimfire calibers forum). My original intention was to go with the Oly upper for the same reason. I can't afford the entire rifle now, so I bought a stripped receiver with the intention of buying the rest of the parts as finances permitted. Plus, I've never built an AR before and thought it would be kind of fun. However, I've found that unlike the pricing I've seen on most AR builds, where you can save a couple of bucks by doing it yourself, there is really no way you can build a 9mm Oly and even break even on the price of their complete rifles. A quick search found a place selling the complete Oly 9mm rifles for $737 - could be places selling it even cheaper. Finding anyone selling just the uppers was alot harder, and the best price I could find was only $10 below Oly's retail. It seems like Oly wants to do alot of these sales themselves, direct to the customer, and so doesn't discount the upper very much for dealers. I didn't think about this before I started my project (i.e., bought the stripped lower) - I figured Oly's $595 retail was just another artificially inflated retail price (just like everything else these days) so we think we are getting a good deal on the price we do end up paying. The lowest I could find for the upper alone was $585 at Del-Ton - meaning that there only a $150 difference between the upper and complete rifle.
So... it really depends on how exactly you are planning your project. If you are thinking of going my route, well, there is no way you can get a new complete lower receiver for $150 - you can't even get that low assembling your own with "budget" parts. If you already have a spare lower, or just want to swap the uppers with an existing rifle.... hell, you still may want to get the complete oly rifle - you'll get another complete lower for cheap.
Upon this realization, I started taking a more serious look at the RRA uppers. They are much cheaper than the Oly uppers, but there are some additional 9mm parts you need to buy (namely the hammer...) and the mag block is about 2x the cost of the Socom block. Still, with the pricing I've found, you'll probably be in for around the same money with either RRA or Oly and 5-6 mags (sten if Oly, converted UZI is RRA). Obviously, if you plan on getting more mags than that, the RRA will start getting more expensive overall, but you still have the option of picking up some real colt mags down the road so you can get the bolt hold open to work. If the AW ban is not renewed in '04, I'm sure you'll be able to pick up new colt mags for much cheaper as well. In addition, Galati is selling a mag block that they claim lets the Colt (RRA) system use unmodified sten mags - one member has one in his hands now but is waiting to test it (keep an eye on the pistol and rimfire cal forum). If this works, then the RRA will definitely be the much cheaper solution.
However, one member did suggest that I contact Stokes (mod on the for sale forums) as he may be able to get the Oly uppers at a more reasonable price. I'm not sure exactly how much cheaper he can offer them for - I'm not ready to buy one yet, so I don't want to bug him right now.
Of course, this just looks at the cost angle. I can't comment on quality/reliability. However, the RRA offering has only been out a month or so, so there really isn't any long term data on it in any case.
Rocko