I still can't get passed the "well regulated milita" clause since it is the very first thing the second amendment calls for. So if militas can be regulated and the people are the militas then it stands to reason that people's arms can be regulated as well. The last I checked, regulating does not mean banning.
regulated past participle, past tense of reg·u·late (Verb)
1.Control or maintain the rate or speed of (a machine or process) so that it operates properly.
2.Control or supervise (something, esp. a company or business activity) by means of rules and regulations.