The m16/AR15 variants in the 5.56 or .223 are an inheriantly accurate platform. The m4's I've shot will even produce moa accurracy. I built a basic A2 configuration for a friend with milspec parts and tested it withcheap line ofpmc 55 grain fmj's and got under moa.
I shoot these rifles in Highpower competiton and it and with very little effort can be made very very accurate.
Believe me you will not find a rack m16 that only produces 4 moa.