Yep, the MAK-90 was the original "revised" AK, sans flash hider and bayonet lug, with the thumbhole stock replacing the evil pistol-grip design. Aside from the application of Political Correctness, it's basically a Norinco stamped-receiver AK-47S (Semi-Auto). I believe that if you replace a certain number of parts with ones made in the U.S., you can return it to the pistol-grip stock. Check with the message boards at AK-47.net.
As for the .223 version, I've heard generally good things about them. Many people like the super-rugged AK design, paired with the NATO cartridge. I've had my eye on one of the Romanian SAR-3 rifles, which is a .223 AK. Rough-looking, but inexpensive!