I went through the same analysis as the OP when choosing a machine gun. I opted for an AC556 13" folder. I already had an FNC semi-auto and could have purchased a sear and sent it out to be converted. Here was my thinking behind my choice:
AC556 had parts available and I did in fact purchase some spare parts for it, not that it has ever needed any.
It is a very well made little full-auto. Quality receiver and parts.
Barrels can be replaced, albeit not as easy as an M16.
When Clyde Armory made a sage CQB stock for it, I opted to drop it into that stock which performs much better than the original stock, especially if you want to add optics.
I didn't want to molest my semi-auto FNC. I looked at how the conversions were done - while I have never heard of a problem with such a conversion, I believe there had to be some welding that had to be done to the bolt carrier. Heck if I know what I'd do if that part failed?
I also looked at the UZI which cost about as much as an AC556 at the time. But, that was a sub-gun which didn't fire the more powerful 5.56 cartridge. I really didn't want a sub-gun.
The AC556 has the tri-burst feature which I thought was neat at the time.
Years later, was I happy with my choice? Yes, I am. There is really nothing the AC556 can't do that the FNC does. With the addition of the SCAR stock, it's a really neat, versatile 5.56 full auto. If there is any downside, it would be the magazines. There are way more magazine options for the FNC as they take the same magazine as the AR. But, there really are a lot of magazine options for the AC556 too. I have factory 30 round magazines, a few 40 round magazines and even a betamag which I got to run in it, but the gun is not designed to do 100 round mag dumps!!
I probably would have been happy with the FNC as well. It cost a couple thousand more than the AC556 at the time. I just never worry about shooting the AC556, and I think I would have been concerned about shooting the FNC.
Truth be told, the UZI would have been fun too, but I do like my AC556 a little more than the UZI.