AKs are alot more accurate than people tend to think they are. Alot of people seem to confuse accuracy and precision.
The sights are a pain in the butt to properly zero, but when they are zeroed the AK47 rifle is capable of good combat accuracy to 300m and beyond. The 74, even further.
I wouldn't trade the AR sights or AR safety/selector for what's on the AK, tho. Not even close.
(The Galil addresses both of those shortcomings in an AK-pattern rifle very nicely, however.)