I bought mine yesterday. Since I live in California, mine will come with a ten round magazine, a bullet button and a ten day wait.
I've been told that the lower is made by Stag Arms, and the barrel by Thompson Contender, who was bought by Smith and Wesson and it is a 1:8, 5r (gain twist) barrel with no flash hider. The rear sight is by Magpul.
Some people are concerned that it doesn't have a dust cover or a forward assist and that the barrel in not chromed. Since I will not be deploying anywhere Mid East or into a Vietnamese jungle with it, the point is moot. Do your research and you will find out what these things were intended for. If it floats your boat to have these features, there are about a zillion models out there with them.
I'm just glad to be able to buy an AR in California finally. By the way, I paid $625 plus tax for mine. I pick it up next Saturday. I think S&W will sell a bunch of these.