I have the Ruger and the Chiappa. I'll give you the good and bad from my perspective so far.
It looks awesome and the wood feels great. A nice light carbine for sure. The front and rear sights are polymer, as well as the trigger group, bayonet lug and Mag. The trigger is very heavy with creep even worst than a stock Ruger 10/22. Shooting over the irons so far, I'd say its as accurate as the Ruger or better. The rear sight on mine needs to be set all way left, to compensate for probaly a slightly over indexed barrel. It was reliable so far with everything tried except Blazer 40gr solid. It even chugged along with Dynapoint 40gr Standard velocity. Manual says ammo from 1050-1200fps.
Love the real GI take down and receiver trigger group look. The open top receiver design to copy the M-1 GI carbine with it's locked breech design,.. leaves the Chiappa M-1 with the ability with some ammo, to spit powder residue around during the blowback cycle. Always, Always wear shooting glasses in general and in particular with an open top blowback firearm. On youtube you can find a guy from Chiappa USA explaining this but in regards to what if a case ruptures on out of battery firing with open top design. The same thing applies to open blowback shooting in general, powder debris can be spit around.
The Ruger I believe is solider, but the Chiappa looks a little better. Who doesn't like the look of a USGI M-1 Carbine set up for Korea!!!
So that's what I've discovered so far with the little M-1. I may try to get reproduction steel rear sights for it at 25.00. One site said it can't correctly take a USGI sling and oiler through the rear slot. I haven't tried one.