My Krebs Custom "AK-74M" has arrived and all I can say is that it is absolutely perfect! I haven't had a chance to take pics yet, but I will very shorty post some in a new thread. For now I will review it in sections:
1. Finish: A very dark, matt, grey-black which is as perfect as that on any AR, and for those who own ARs in addition to AKs, you know that that's a good thing. Also, the finish appears very light when it's bone-dry (like it was when I first saw the rifle) but it turns a very nice black after you rub some non-dry oil evenly into the finish.
2. Build: Everything is straight and even and perfectly machined. The rivet work is perfect, and the brake is perfectly welded.
3. Conversion: You wouldn't be able to tell if you didn't know it was originally a Saiga sporter. The FCG/pistol grip relocation is flawless.
4. Authenticity: It's not really an AK-74M so much as it is an AK-74N. For obvious reasons it has no folding AK-100 series buttstock. It also lacks the magwell "dimples" but even an authenticity freak like myself can overlook that inconsistancy in this case. If you want an absolute semi-auto replica of an AK-74, I suppose you would be better off with an Inrange build, but the pure perfection of the Krebs is pretty persuasive.
5. Overall: It's a perfect rifle, I highly recommend it to anyone with an extra grand burning a hole in your pocket. If you want AR build/finish quality in an AK, this is your rifle.
Also, the people at Krebs (there aren't many) are very nice to deal with. They treat you like a business should, and they will call you sir even though they're the talented gunsmiths and you're just some schmuck.
So, a few months ago I bought a SAR1 on a whim, and now I have a Krebs gun. AKs are definately addictive.