The Colt LE6920MP-B is an awesome buy. If I could buy more living in Marylandstan, that’s probably what I’d buy as a general purpose back-up gun to the primary one that I already have, and I’d probably leave it as is to be honest, except for sling, optic, white light and maybe a trigger. It’s true I’ve modded the ones I have, but the one you have is a really good start, and you’ve barely run it.
Before buying the rail and VFG, I’d recommend buying more magazines, at least 5-10. People have different tastes in magazines, which is why you may want to just start off with 10 before you figure out what you like. I like metal mags, but others like polymer mags. If you’re undecided, you could buy 5 metal mags and 5 Magpul mags, and decide what you like from there. I like Magpul followers in my metal mags. I also primarily use 30 rnd mags. As you gain experience and develop a preference, then you can spend money on 20 rd mags or 45 rd mags or whatever, like 60 rd mags, but at first stick with RELIABLE 30 rd mags in my opinion.
Then I’d get an optic, but you’ve got to know how far you want to shoot with it. I have an Eotech for up to 300 yards and am playing with a variable optic for shots up to 500-600 yards. Both are probably overkill for home defense, but that’s why you have to define your “mission” requirements. For me, yes I bought my AR’s for home defense, self-defense and maybe hunting, but I mostly use them for training classes and competitions. For home defense, most suburban self defense scenarios and matches inside 300 yards, the Eotech is fine. For hunting, competitions out to 500 yards and, in my opinion, a more well rounded optic, the variable optic is where it’s at. Decide what you plan on using the AR for, and then buy the appropriate optic. In the meantime, get good at your irons. Also, I’d rather buy a variable optic than a red dot with magnifier, but others disagree. I think variable optics are more well rounded, but if you’re not shooting past 100-200 yards, a red dot is fine.
After the optic, I’d probably buy a sling and then a white light. By the time you get to the light, hopefully you’ve shot your AR in classes, at competitions or practiced on your own on an action range. The point is, if you’re shooting 200 yards from the bench or 25 yards at an indoor range, you’ll probably never really get to know your AR and develop a preference. Shooting in classes and competitions makes you use the AR, I hate to say this, more dynamically. You also have an opportunity to see and learn from other potentially more experienced shooters and try their stuff or at least fondle it.
The mags, optic, sling and light will all work with your currently configured AR. They will also be usable once you upgrade the rail. Once you’ve had to “run” the AR, whether under the clock in competitions and in various positions or while being pushed in class by an instructor, you’ll know what you really need and like and can buy with more confidence. Until then, honestly man, the AR you have is a more than adequate AR. The rail and VFG won’t get you more performance gains than the other items I mentioned above first.
Shaving the FSB is up to you. I had mine shaved and had to pay a gunsmith to do it so that adds to the cost. I also had a gunsmith install my free float rail, which also adds to the cost. I think it was worth it to get a FF rail and VFG with shaved FSB, but not before the getting other things mentioned above, but if you’ve got the money, more power to you. I have flip up iron sights, but I often leave front flipped up because of parallax so FSB or flip up are both good to go in my opinion. I got flip up because of shaved FSB and longer rail. If I had to do it again and found rail that I liked and that would work with stock FSB, I might not shave it.
One last thing, you get more perfomance out of your AR by using and learning how to shoot it well than buying stuff for it until you gain experience. A couple hundred rounds does not count as experienced. But I’ve modded my gun too, and I’ve shot several thousand rounds through it too. But guess what, I’m not the best shooter. I’m not the worst either, but there are plenty better than me. Why? Because most of them have just shot more than me. In other words, they are more experienced. It’s not because of their rail and VFG. After modding my AR’s guess what I have to do to beat these guys. Yup, get out and practice and just shoot the damn gun more.
Good luck and have fun.