The "special hell" will be when you find a hand guard within 30 days of modifying it.
Lol! Yeah, no kidding.
Let me say that I'm not deaf to either side of the collector/sporter question. I have a scoped tanker M1, and I love it; it is a functional improvement over the M1 in all ways. I also have a gorgeous Japanese Type 44 carbine, and it will never, ever see a Dremel tool.
This Hakim is not just missing the handguard, but is by no means a great example of the design. The finish is worn, the stock is rough. The magazine already has a Bubba'd replacement floorplate. And, the numbers aren't matching.
The Hakim was clearly designed to be a weapon for a trained, competent marksman, not a conscript's weapon like the AK that replaced it. If one were to put in the effort to do clean, quality work on it, and use modern developments to make it better at its original role, I think that could be as karma-friendly as the proper hot-rodding of a classic car.
Anyway, the progression would be first modifying some MG13 mags, then a new stock set, then a scope mount, and then a barrel chop (and I think the adjustable gas system would compensate for any functioning issues with a shortened barrel). Then I use it to whoop up on ARs at some 3-gun matches.
Now I just need a couple hundred bucks for parts and mags...
I'll post pictures when I start getting things accomplished.