It only came to nothing because Obama had bigger fish to fry. If the economy was alright and healthcare had gone smoothly, rest assured he would have gone after them. The Obama administration made it's views on guns quite clear with the proposed South Korea sale of surplus Korean-War era M1s. They were afraid they would "fall into the wrong hands". Yeah, go find me the last drive-by, assassination, or robbery that was done with a semi-automatic Korean War era rifle.
So while you're busy bashing those who took it a tad too far, keep in my that they had the right idea, just overzealous in execution. For my part, I didn't participate because I figured, as previously mentioned, that Obama had bigger fish to fry. I was right.