Nice AIRSOFT pic. ;)
The M-14 has much more mystique since it was one of the shortest-serving military weapons in US history. Lousy ergonimics for urban fighting, and that's where the M-4/M-16 have the advantage. Controllable with a good rate of fire.
I've always thought that an assault rifle chambered for something along the lines of the 6.5mm Swedish Mauser round would be just the ticket. Easy to shoot and penetration all out of proportion to the recoil involved.
The problem with bad guys in combat is that they tend to hide behind things...it's nice to be able to shoot them anyway.