Uh, Guys--the Yugo is one of the best AK's out there. It is a collectable gun (few imported, etc.). Why do people pay much more for a Stoner AR-15 instead of a Century Arms $500 special? The MAK-90 is OK (I had an NHM-91), the Legends are very nice guns (I do like the milled receiver guns), the Hungarian stuff has the best finish (the Yugos are about equal).
As a cheap shooter, the SAR-1, or other cheap guns are fine. As a collectable, the Legend, Yugo, Kassnar import Hungarian guns, etc. are the way to go.
Taa--if you are going to pay that much for the Yugo, make DAMN sure it is marked AK-47 (pre-ban) and not M-90 (post-ban, MAYBE grey area). Skip the AR in 7.62 for the reasons mentioned (mags mostly). You could get a .223 AR, a bunch of mags, and a cheap shooter AK for what it will cost to get a different upper (in .223) along with the 7.62 Colt.