Ha glad I got to this one first. 5.56 chamber is better than 223 it allows you to shoot mil surpus ammo with out any danger. If you have a 223 shooting 5.56 can be dangerous.
Here is my back ground before you take my advice. I have 9 years in the US military. I have personal owned 4 diffrent AR based rifles before I settled on the one I have now. I have depolyed to south america, afghanistan and iraq carried the M4 carbine, M16A2 and the M14.
Spend your money wise and build what you want! Living in a ban free state makes things easy and cheep.
YOU WANT MPI parts (magnatic partical inspected) its a must for a serious gun. if you buy from Colt,LMT,Danial Defence, LWRC,S&W,Noveski you should be ok there are ALOT more but that it the short list of the top manufactures.
Rounds that will fit on the standard AR reciver are 5.56 nato,223,6.8 spc,6,5 grendle, 30AR, just to name a few you can get others but ammo will cost you with most of these.