The M95 is a licensed copy of the Browning, and all parts should interchange with the current equivalent, the MKIII. SARCO says all parts interchange. From my limited experience, all the major parts interchange. I would assume like most older designs, small parts may need to be fitted. The only real difference is the FM does not have the relief cuts at the muzzle so a tight fitting browning holster may not fit. 1911 holsters, however will fit the M95 pretty nicely. Browning mags and grips fit.
While the finish is not pretty, it does seem to be pretty rust resistant. I have found it to be pretty accurate, and reliable. I fired about 300 varous assorted rounds out of the confiscation bin and had no malfs. The finish is a bit rough, but on par with FN military contract pistols. I trust it enough to use as one of my primary carry pieces.
The HiPower is a cool gun, if you look at it, its parts do all the things that a 1911 does, but does it all differently to get around some patent issues.