I agree with Dan about the hilt. If you already have an M16, then let this urge subside. I think it looks kind of goofy. I suggest the CRKT Lightfoot M1. I just recieved mine yesterday and I have a hard time putting it down. The modified Tanto blade, aside from being beautifully designed (it's slightly different than the custom M1), is AUS 8 stainless steel with black titanium nitride non-reflective coating, and in my opinion is very versatile. It is an excellent cutter with a strong point. The handle is what I really dig. Although it is a thick carry @ 15mm (9/16"), it feels so natural in the hand. It has its version of the Carson Flipper (Mako flipper)that when open, is continuous with the finger choil to form a guard. it has two clips for right or left hand, tip up or down carry (tip down feels a bit rough on the pocket).
As for CRKT, I think you get a lot of bang for the buck. I'm surprised that CRKTs do not get that much "airtime" on this forum.
BTW the M1 cost me $42 plus shipping at knifeworks.com and personally I think I got a better knife.