Aaaaaand....I felt I just needed to add this. Apparently someone at Lage manufacturing, which does modifications of existing M11 and Mac 10 submachine guns into almost entirely different looking weapons altogether, actually went and designed a "real life" Aliens M41 Pulse rifle.
No lie, GI!!!
http://www.youtube.com/watch?v=am76xV8Aubk
Sadly, it doesn't fire 10mm caseless ammunition nor 30mm grenades... what it DOES do is fire 9mm Parabellum ammunition utilizing a very heavily modified Lage Max-11 submachine gun alongside firing 12 gauge shells utilizing an undermounted Remington 870 AOW shotgun. According to the guy who made this, it does indeed have an electronic red dot sight and a functioning round counter that lights up and tracks the number of rounds left when you insert a 50 round magazine into the weapon. Unfortunately, it appears this was a one-off and wont' be manufactured in any quantities unless someone else picks it up.