I'd take a Norc over some of the low end North American AR's (have owned a Norc, have owned an Armalite, have owned a Colt - not saying they are equal). Frankly the new Bushmasters aren't all that hot, and if it came down to $1400 (locally) for a Bushy or $750 for a Norc, I'm honestly going to take the Norc (actually, I did). That said, I tend toward the idea of building your own AR - not hard to do, and you learn the gun inside out, keep in mind there's not a ton of "investment value" in either a Norc, or a Homebuilt, while a higher end AR will (if kept nice) retain most of it's value. So, if you're going to run it 'till it drops a Norc or a homebuilt is a good way to go, if you're going to treat it like golf clubs a higher end AR might be for you and if you're going to seriously compete, you're going to run a higher end AR - like it was a Norc or a Home built.
Cadgo, "For an extra 150 dollars you can get an American made AR-15.... " these are the NA Ar's that I personally would pass over in reaching for a Norc, there are a lot of good AR's made in the US (and elsewhere) but they aren't available (yet) for $1,000. That may change in the next little while with NEA, I certainly hope so. For now, the cheapest reliable AR I've seen is in the $1400 range (and even in that range you need to chose carefully).