Polymers aren't anything new to most of us, but quite a few of us are familiar enough with the design of this rifle, as well as the rifle it is based on (the HK G-36), to know that the design has serious shortcomings, making it a step back, not a step forward. The only really good concept with the program is the red-dot optic with the integrated IR laser aimer, and the optic can easily be adapted to fit on a standard 1913-spec rail (AR flattop).
We're all for something BETTER, but this isn't it. And now, even the Army, who was the lone branch pushing for the XM8, has figured that out. Now that they've spent $29,000,000 dollars on design and testing on HK XM8 (and remember: it's basically a G-36 with a new plastic shell), they are opening up the program to all-comers. Essentially, they are admitting that the rifle, with that much development money, may not be as good as existing commercial solutions that haven't had a fraction of that money spent.
HK has abandoned the design and turned it over to General Dynamics. They've cancelled plans for a US plant. Congress defunded the XM8's 2005 testing program.
If that doesn't tell you everything you need to know about the rifle, well...
-Troy