After decades of dreaming...
I finally got one a few years back. OMG that thing is freaking heavy! Around 12lbs, empty!
It is a fun plinker, mine is very accurate (five shot one hole group@25yds) and I can hit the 200yd gong on the range with it, using the ladder sight!
Great visual impact. Virtually no recoil. Closest thing I can have to real Tommygun (semi auto, longer barrel, but hey, close, and nowhere near as expensive!)
The inside parts of the semi auto are not the same, as the FA parts, and FA parts will not fit inside the receiver.
It is a practical as any .45acp carbine, except for the tremendous weight. And it has all the ergonomic drawbacks of the SMG, awkward magazine insertion, poorly positioned safety, etc. The bolt will hold open after the last shot from the stick mags, but not from the drum. It is designed that way. Due to the changes done to make it a semi auto, changing the drum mag is very awkward, and requires a "third hand" tool that comes with the drum, to hold the bolt open.
Trigger pull is long, mushy and heavy. After a few dozen rounds you feel like using two fingers! But, with care, and practice, you can shoot well, even with the poor trigger.
The gun is not as useful as an AR. Part of that is the caliber, and the rest is the size and weight. However, it is a piece of history (as near as the law, and economics allows most of us), and great fun.
I wouldn't pay new retail for one, the price is too much. But if you can find one used (and usually the used ones haven't been used much) for $600 or so, (like I did) its a better value. remember only the 1927A1 will take the drum, the M1 variation will not.
If you are looking at having only one, and using it for defense, the Tommygun isn't the best choice, due to the cost, and the weight. But, very little says "I mean business" without having to fire a shot like a Tommygun!
Oh, by the way, the springs are gorilla strong, some folks have trouble cocking the gun. If you do, grow stronger!
And holding that thing up is one way to do it!
Also be advised that stock GI Tommygun stick mags will not work in the semi auto either. The have to be modified, as the mag catch is about 1/4" off, due to the receiver changes done to prevent using FA parts to convert it.
I like mine, but its a range toy and plinker. There are lots of more "practical" guns out there, many cheaper. But it is really cool!