It's the same animal, just a different round. I like it better, it's more accurate (if you can even use that word associated with an AK) and the round has some wicked characterisitcs after it hits human tissue. If I remember correctly, the bullet can do almost a 90 degree change in direction after impacting the human body. The Afgan's gave it a spooky name during the Russian-Afghanistan War, but I can remember it.
As for the CAR15/M4 type weapons, they're great for urban warfare, but it would not be my choice for an engagement more than 100yds. Most people know that the 5.56 round has a bad rap for killing power, but that is beyond to 200 yard range (for the M16A2). After 200 yards, the 5.56 loses a lot of its energy and loses its ability to fragment after it hits tissue, making it much less effective. When you switch up to a 16" barrel, you lose about 500fps velocity, and reduce the fragmentation range to around 150 yards, thus making the weapon less lethal. But it DEFINATELY earns its keep in close quarters engagements.