If you want just and AOW, a way to save money would be to have an 07/02 FFL manufacture an AOW for you with a virgin receiver. Then the transfer would only be $5.00. The 07/02 doesn't have to pay the $200.00 "making" fee.
If it's registered as an AOW, it can not have a buttstock. As an SBS you can have whatever you want.
For me, I'd rather pay the $200.00 and register it as a SBS. That way you could put any size barrel or stock you wanted on it and switch back and forth whenever I wanted to and not have to worry about it.
Exactly. That is why I sold the AOW and built an SBS. The SBS is far more versatile.