The IRAC M2HB is indeed high quality and looks very good. It is made of aluminium.
Up side of the aluminium is that it only weighs about 45 pounds, the down side is you have to be careful to shoot short bursts so you don't melt the barrel (as warned in the instructions from the manufacturer). The aluminium gun also doesn't hold paint well.
I also have a steel M2HB made by John Cheney. It is a superb replica, and has a parkerized finish. Being steel, you don't have to worry about melting the barrel, but it will rust if it gets rained on.
Upside, looks real. Downside, it is almost as heavy as a real gun!
I have one of each gun. Cheney's cost me a little more than the IRAC gun, but if I could only have one, it would be my choice.
Cheers
Pics are Cheney gun
Edit- I looked at the IRAC site just now, the prices are way up from when I bought mine, the gas gun being almost double. Cheney's guns may actually be less expensive now. He does make them to order, so you might have to wait a bit to get it.