Yep I have made the switch, I did it myself and it took less than an hour. I agree that the forward assist serves no purpose, also the dust cover although in the fine powder dust of the middle east may find a use, I also dont see where it serves that much purpose, it is not hermetically sealed so the fine dust will go right past it also. I did it mostly because I got a heck of a deal on an M4 upper with "Marines" laser engraved on it, but I have already started to assemble another using my left over upper. I was part of the aggressor battalion at 29 palms for 2 years. The dust cover helps some but it is just another poor bandaid but a neccessary one in combat. If you think you are going to be taking your sport to the middle east or north africa it becomes a necessary item, if not then it just a nice item not a requirement. Do what makes you feel happy, I have a dust cover now, do I keep it closed? Nah maybe when I think about it. I do like the smaller rear sight but it could be that I am selling Matechs, I do not like the plastic magpuls. The aperture window is not crisp and well defined. This is all just my opinion, do what makes you happy, my new upper reciever with all the little parts and pieces was less than $50.
p.s. SplittieBus I have my fingers crossed for you that you get one with reasonable accuracy, your colt that is.