David Crane got an exclusive on the new Colt Modular Carbine CM901. It is one nifty looking rifle.

Colt’s CM901 is designed as a multi-caliber, modular capability with one lower receiver configurable to different calibers and barrel lengths for different missions. With its universal lower receiver based on the 7.62 mm round and the ergonomics of the M4 and M16, the lower receiver is also compatible with the upper receivers and bolt carrier assemblies of all existing Colt weapons in the military inventory and its newly developed weapons and alternative operating systems from 7.62mm to 5.56mm. Colt has kept its solution simple, operationally and cost effective, and easily adaptable for the warfighter and the support base.

Lots of info, photos and video at DefenseReview.