I have one fitted with the after-market folding stock and AR buffer adapter. I put on a Magpul stock painted to match that offers a much better cheek weld (and if need be, cheek risers), than the factory wire folding stock. For me, it really improves the fit and function as well as the appearance of the rifle. I also happen to own an FNC1A1, HK G3A2, AI AR10 and an M305. The SG 542 definitely hails from the battle rifle era of the 1950s to 80s, and is in particularly good company sharing the look of the G3 blended with the ergos of the FN C1A1. I really like the SG 542 for what it is - a dependable, rugged, reasonably accurate and comfortable battle rifle. Is it obsolete? Perhaps from a modern military perspective, although there has been considerable use of battle rifles in the desert region conflicts of late, so they definitely still have their place..
Now that the asking price for new rifles has dropped to $2200 with excellent used examples at $2K or less, the 542 and it's 5.56 cousin are more sensibly and competitively priced. Good news for those who might be the market! At the $2K mark I think that the Chilean FAMAE rifles offer excellent value for your shooting dollar. While they are admittedly not finished to the same cosmetic standard as the Swissarms PE90 rifles, the FAMAE rifles can certainly hold their own when viewed alongside their modern sporting rifle brethren. The fact is that no other MSR can match the Swissarms product for quality and precision of manufacture either, aside from perhaps the B&T APC. In that regard, the Chilean rifles have been held to a unfairly high standard based solely on their shared heritage with the Swiss rifles. The fact is that the Chilean rifles are a very well made product in their own right.
Of all the available NR .308 cal/7.62x51mm rifles, the FAMAE SG 542 is the only one with validated military performance under adverse conditions. It is reliable, durable and sufficiently accurate for its intended employment as a battle rifle. Yes, magazines are outrageously priced, but just bite the bullet and buy a handful. It's not as though you will ever use them up, so how many do you really need? There are package deals to be had on the EE if you watch and are quick to commit. Everything else about the SG 542 is outstanding. You won't be disappointed!