Beerbelly, for me the OLY setup is the way to go. I have 2 9MM carbines 1 is an OLY I bought new and the other is a OLY upper on a DPMS lower. I just put the upper on the DPMS lower added the socom block and sten mags. Just so you know this setup won't hold the bolt open after the last round. Oly is also coming out with a model that takes Glock mags.
Getting back to my setup I have had zero problems using Winchester and Wolf ammo. No FTF or FTE. I don't have any experience with the Colt setup but I would sure like to try on out. As far as costs I picked up a new upper for considerable less that what OLY advertizes on the EE the seller even through in a socom block, comp and sten mags.
If you know someone that has a carbine see if they will let you try it out. Whatever you decide either Colt or OLY style I know you'll be happy with it. You just need to own an ammo factory!