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XMG Belt Fed AR Upper Receiver (http://www.brpguns.com/categories/Semi-Auto-Firearms/XMG-Belt%252dFed-AR%252d15%7B47%7DM16-Upper-Receiver/)
 
Bolus, you're an armorer by example. When are you building yours? :-D
It may be a while. Im learning to weld and Im quite terrible.

I saw this m53 parts kit and started to research how to build a semi-auto receiver and as usual it is darn near impossible unless you are a master machinist.

<broken link removed>

But then ran into this one that goes on a AR15 receiver. But then looked at the cost.... :(
 
$5500. I lost my excitement.

An expensive toy for sure, but I've known people to spend a lot more on a jet ski, Harley, etc.

It doesn't say on their site (that I can find) but part of the appeal to me is that I think this - being an upper - would probably be a non-firearm, the lower being the firearm. If a person really wanted to be off the books, they could start with an 80% lower.
 
It has a different stock to look like the MG34, but I would guess that this isn't a required stock, so a person could maybe use a slide fire type stock. They do say it will work with any AR lower.

Interestingly, they also say "Each XMG comes complete with all parts except for the lower receiver. It is capable of semi-auto-fire-only operation with AR-15 and variant weapons and selective-fire with M16 and variant weapons but may not be used on transferable machineguns"

I wonder if that is a technical issue or a legal one?

I can't think of why it would be a legal issue.

Either way, I would only get it for a semi-auto anyway.
 

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