I will admit that I was ignorant to the fact that the waiting period for handguns no longer exists- if any of the self proclaimed experts in this thread knew nearly as much as they claim, I'd have been called on that, rightfully so.
Specifically, what part of my most recent post, or any of them, is in error?
You've already failed at false attribution, and I doubt that your assertion of opinion as fact will be any different.
In an effort to be fair, allow me to review. In order to purchase a firearm from a FFL holder in their home state, a basic buyer must-
1. Make a selection
2. Present proper ID
3. Fill out the buyer portion of BATF form 4473.
4. Pass a NICS check, which might take up to 3 days
5. Pay and leave
For private sales, only 1 & 5 apply. Smart private sellers protect themselves by obtaining proper ID from the buyer. Some states and munis may have additional requirements.
The FFL must retain a copy of form 4473 for 20 years, (5 years for any rejected on the basis of NICS) and observe other record keeping requirements, none of which involve actually notifying the govt of anything pertaining to the sale itself unless specific requests are made, or unless a buyer makes multiple handgun purchases within a 5 business day period. In that case, the FFL must observe the requirements of form 3310.4.
What the BATF wants is to extend the requirements of form 3310.4 to cover multiple long gun purchases in 4 border states.
Again, States and Munis may have additional requirements.
Notice that 4473 forms are not collected into a database other than the records of the FFL, and that the NICS request doesn't mean the potential buyer actually purchased a gun. The BATF may examine the records of any FFL on demand.
http://www.thundertek.net/documents/4473.pdf
http://www.atf.gov/forms/download/atf-f-3310-4.pdf
If you find any of that to be in error, point it out, specifically, and provide documentation in support.