Originally Posted by MrPlink
Read the flow charts!
^^ What he said... http://www.calguns.net/caawid/flowchart.pdf
But, since no one else has chimed in with a more detail explinaiton, I'll take the liberty of doing so...
If the only thing stopping your AK from being legally considered "featureless" is the pistol grip (lack of all other "evil" features), short from removing the pistol grip, which doesn't work too well on an AK, the next best thing is a grip wrap.
It's uncomfortable, looks silly and I personally don't like them. I've tried. But it's the wrap or the bullet button. For now, I've gone with the bullet button for pure ergonomics and control of the rifle. Besides, it's not permanent and easily removed (under legal circumstances of course).
With a "featureless" AK, you can legally remove the bullet button and if you owned "high capacity" mags before the ban in Jan 2000, you can now use them in your newly "featureless" AK.
It's a little known fact that owning "high capacity" mags before the ban doesn't give you the legal right to use them in a rifle with a bullet button (including an AK), in fact, it's the opposite, it's illegal to do so...
Yes, it's illegal to use "high capacity" magazines in a bullet button firearm.