OK, first off, since May 19, 1986 you can no longer convert a new rifle to full auto on a form 4.
Which means that you are not going to be able to drill the hole for a standard auto sear to drop in. The only way to convert an AR-15 for civilian ownership is to buy a pre-registered conversion device such as a RDIAS or RLL. Now here is the rub, since the device, which was registered before the cut off date, is the MG it's self, the rifle becomes a host and does not need to conform to the pre/post ban rule (as long as the device is in the rifle).
The reason that I bring this up is once you have the registered auto device and installed in a rifle, no matter whether if it's a post or pre ban, the rifle is simple a host for the NFA item and the semi auto rifle rules go out the window. If you’re looking for a rifle to drop a RDIAS in, buy a post ban receiver, M-16 parts kit and be done with it. As for the COLT pre-ban to full auto, your going to need to change out a lot of parts for a DIAS, and will waste your money since once the NFA item is installed, the rifle is a NFA host, and not a pre-ban rifle any more.
Hope this helps.