It's a Steyr AUG assault rifle (5.56). It has a 30rd mag and 1.5x optical sights with Iron night time battle sights as standard. And it's a bullpup design.
And it competition against M16's, H&K's, AK47's, FN's etc with us it has never been beaten.
It's seen here in service in South Lebanon just a few months ago with your's truely
The big bino's on the right of the picture are used for monitoring AE (armed element) activity in the AO (area of operations).
Here's another picture showing me in silluate (sp'ing sorry) with a bayonet attachment.