I would like to see what American arms designers could do with such things as gas-pistons(AK, M14,), or delayed-recoil(Browning M2, Thompson) and a cartridge such as the .243.
BTW, I also don't think we need all the geegaws we seem to hang or attach to the rifle. What we need is something which follows the concept of RAM-D(Reliability, Availability, Maintainability, Dependability) first and only then play with the toys. Weapons following this concept well are much liked. Witness the affection of older vets for the M-1/M-14 rifles. It's near universal. The M16 has been "controversial" for 40 years, and is still viewed with suspicion by a great many who use it.
This alone should tell us something about what to replace it with.