When I first thought about replying I hadn't seen the part about your wife wanting a .223. I think that makes my answer a lot shorter.
As far as direct impingment (AR) vs. oprod (KelTec, SKS, FN49, M1Garand), I would agree there are good and bad points for each. For an every day plinker though I like the oprod system, it's just a lot easier to clean. I do have one AR, just finished putting together a .50 Beowulf. I also have 3 of the 4 noted above and the KelTec SU16A is my wifes favorite rifle to shoot. The SKS is just too heavy and unwieldy for her, the FN is a real "mans" rifle, much like an M1, just too big for most women to be happy with.
To be honest most AR's are also too heavy, especially after you add some lights, lazers, free float front tube (with or without quad rails), a forward grip, don't forget some optics, and most important the BUIS in case your optics go out when the Taliban Paratroopers land at the mall. Anyway, with a single loaded mag you are probably up to 8-10 pounds for the high tech AR's, that's just too much for a .223. And in my wifes case the 5-5.5 pounds of the KelTec with just a red dot added is just about right.
Price wise there is no comparison, the KelTec complete costs about the same as a low cost upper with bolt assembly. A complete AR lower will run around $210-230, and that doesn't get you a great trigger. A great trigger will add another $175-200 to the AR, which brings us to the fact that you can't buy a good trigger for the KelTec, you've got to live with the one you get right now. The AR upper mentioned above probably costs most of us $800-$1000, I'm sure there is a bunch of people that only spent $199 because they built the upper from a box of spare parts, but realistically that isn't how most people do it. To build an AR upper right needs some investment in tools, and skill that a lot of us (including me) don't have.
Once you build a lower with a good trigger you can add other uppers, but not really at a lower cost. I paid $599 for my .50 Beowulf upper, that's more than my Mauser custom in 458 Mag. A .22 rimfire upper runs $300-400, I can buy a CZ or target Ruger rifle for less.
So if I understand your need, I'd go for a KelTec SU-16 C or CA. I have the A, and like the factory sights on the C and CA much better than mine. It's light, mine has been very reliable, and it uses AR mags, what's not to like.