It's going slow, but there's definite progress!
I've read all the posts about the US versus Swiss "elves" produced parts in the 556. I don't want to get into all that, but for this project, I'll say I felt it was worth the trouble and expense to use as many Swiss parts as possible. So, I purchased a NIB low serial 556 rifle with the intent of using all the Swiss parts off it on this project. For example the complete bolt group, complete gas block, a shortened operating rod, etc. It's on its way to my dealer now.
That said, my project has taken a sudden turn as I just purchased a brand new front end and complete bolt group from a Sig 552 as follows...
So, my "new" tentative plan is to lengthen the 552 op rod slightly and use the entire 552 bolt group, the 552 gas block assembly including handguard collar, with a 550 handguard modified to 552 specs. The only parts left from the P556 will be the receiver, barrel, rail and gas tube. The rest will be Sig 55X. All with original finish, green/gray lower, gas block handguard collar, front sight and the rest in black with black furniture, so it will be 2 tone.
I haven't yet explored the possibility of using the entire 552 front end with the P556 receiver. I realize the barrel threads are different and that's the first roadblock. We shall see.