Peasant gun for a peasant army.
How well will they function 6 months form now?
They have been taking delivery of M4s/M16s since 2007 with no reports of problems too date...
PS There are Iraqis that agree with you. That is why the Ministry of Interior [police] buy Chinese AKs.
Ministry of Defense has over 1/5th [50,000+] of its force equipped with M4/M16 as of Jan 2010 with no major issues.
Except one: It is taking too long for the manufacture to deliver them. Over 100,000 have been ordered but only half delivered to date...