When i first joined the army I was issued a F&N M4. It wasn't to bad, but it wasn't a good either. I had a Missfire or two in the short time I had it. I don't know where your getting that only Colt had a Military Contract, because the F&N wasn't the only one. By the way I don't have a dog in this fight either because my last M4 Army issue was a Colt, and it NEVER failed me. Dry bolt, over oiled, desert. Nothing stopped it. I'm trying to decided between Colt and Smith for my AR to. I'd prefer a Colt just based on my Military experience, but I'm have trouble finding one locally.
I would grab this one from right here on the forum.
http://smith-wessonforum.com/guns-sale-trade/266312-wts-nib-colt-le6920-m4-carbine.html