The critical measurement for an M4 is head space. As others have said the Army doesn't measure gas port erosion, and when springs fail they get replaced. Every once in a while I saw gas rings fail, and there is the very rare trigger\sear pin rounding out issue, but head space is critical above all else.
Head space gauges come in three flavors, but unless you build rifles under the TDP, or are really into QA\QC, you really only need a Go and a Field gauge. The go gauge tells you you have enough head space to safely chamber and fire a round. The field gauge tells you when you have too much head space and it's time for a new barrel. Some manufacturing standards require a new rifle chamber to have a head space reading the falls within a small range of measurements. What a no-go gauge does is measure to see if the new chamber is too long. If a rifle fails (i.e. closes on) a no-go gauge, it doesn't mean the gun is unsafe. What it means is there is more head space then the spec calls for. I've seen plenty of rifles fail a no-go and come no where near failing a field gauge test.
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