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Don't buy a colt, they are way overpriced and you will be better off spending the money you save on a nice optical sight, light, etc.
There are lots of options for railed fore ends. Daniel Defense makes a lot of good ones, but they will probably not all suite your particular taste.
Larue is a fantastic brand as well and are worth considering, especially with my following suggestion:
You can buy complete upper and lower receivers separately. Only the lower receiver is serial numbered and counts as the 'firearm,' which means the uppers can be sent through the mail with no paperwork. Look online until you find the 'exact' upper you want and then order that separately from the lower. You can buy or build a complete M-4 style lower for less than 200 dollars.
I won't link to any manufacturers directly because it will only get my post deleted, but do browse the internets for a while. You can probably get exactly what you want, without compromising, for less than the colt you were looking at.
Lastly, I do like having the M-4 cuts, but many, many manufacturers offer them and it should be easy to find if you wish to have them. They do add a small degree of reliability to the rifle but it isn't a super big deal. I own rifles with and without them.
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"Socialism is a philosophy of failure, the creed of ignorance, and the gospel of envy, its inherent virtue is the equal sharing of misery." - Winston Churchill
"All men dream: but not equally. Those who dream by night in the dusty recesses of their minds wake in the day to find that it was vanity: but the dreamers of the day are dangerous men, for they may act out their dream with open eyes, to make it possible." Seven Pillars of Wisdom, T.E. Lawrence
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