I'm supposed to be getting another one shortly here. If it ever gets here, I'm going to use it to narrow down what's wrong with the first one. Hopefully it's just a fluke though.
Edit:

Second one is here. This allowed me to confirm that the electrical issue on the first one is somewhere in the lower gearbox assembly. I'm going to try to work with ICS to see if we can determine exactly what caused the failure and why. For anyone who is planning on picking one up (or already has), I would recommend staying away from 10.8v/11.1v batteries until this issue can be resolved. I don't know if that was the cause of the failure in mine, but I wouldn't recommend taking a risk until we are sure. I will say for the record though, that you need at least a decent quality 7.4v LiPo or 8.4v NiMh as the cheap 7.4v LiPo I initially tried was unable to turn the gun over. I'll be posting up a review today or tomorrow of both models and highlighting the differences.
Edit 2:
WIP Review of both models:
http://www.airsoftretreat.com/forums/index.php?topic=97092.msg925527#newEdit 3:

The ICS MGL (Milkor) has been release. I'm trying to find out when we can expect US availability on this. MSRP is listed around $220 so, I would expect prices of $175-$190 in US stores. At this time it is only available in black, although I have my fingers crossed for an FDE version. A quick run down on the specs:
1. Made from Industrial Plastic (ala their Sportline M4's) which results in a very light weight (4.8lbs)
2. Standard M1913 rails and vertical grip is included
3. Uses standard AR-15 stocks (trying to confirm if mil-spec tube)
4. Stock has 6 length adjustments and 3 angle adjustments
5. As this is an MGL replica, the cylinder assembly rotates out like a revolver rather than flipping the back up like other 6 shell launchers
6. ICS is looking into making special light weight shells (IE POM style) for use in this launcher
7. Adjustable hammer/firing pin for use of different shells