Wow! We've got some REALLY positive news for a change!
Several states are putting together similar laws. The law is that guns made, sold, and remaining within that state are not subject to any federal gun laws, but will only be subject to state laws. The federal gun laws are under the authority of the interstate commerce clause of the Constitution, and since these items do not have anything to do with interstate commerce, those laws do not apply.
And a major factor is that 20 states are working on these laws; the Court strongly considers societal trends in its decisions. They could easily decide that a strong federal government was the way people wanted it fifty years ago, but now people want decisions to be more local. It's the same idea as with gay marriage; the courts decide, not based on law, but on what most people want. If you are in state government and reading this, push for state laws matching the Montana Firearms Freedom Act. The more states that have this law, the more ground the court will have to expand on it.
They are gearing this to go quickly to the courts, and then to the Supreme Court. The Supreme Court has been leaning this way, as shown in recent decisions, but those cases were too small to bother with.
This involves guns, so everybody will be watching. The government knows that gun and ammo sales are a direct indicator of trust in the government. When people trust the government, sales are flat; but when people don't trust the government, sales go through the roof.
If this goes well, it can lead to overturning all regulatory laws that affect anything other than interstate commerce. After all, the laws were based on interstate commerce; they've just gotten WAY out of control. Minimum wage laws are based on interstate commerce. Maximum hours per week are based on interstate commerce. The entire EPA is based on interstate commerce!
Mind you, these regulations may continue for businesses that deal across state lines, but small businesses, those that are only in one state, those that are currently getting regulated TO DEATH since they can't afford to hire hundreds of people just to deal with the regulations, may find some relief in the next few years. The ultimate solution may take two or three years to come, but it's heading that way.