That's... how the 2nd amendment used to be treated, actually: state laws against conceit carry have lo-o-ong history, and they've been held to be perfectly constitutionally until recently. Oh, and "well-regulated" used to mean "well trained and supplied" back in those day.

And the 2nd actually reads (if you fix its grammar since it's ungrammatical by the standards of the modern English language) "since the well-regulated militia is necessary to the security of a free state, the right of the people to keep and bear arms shall not be infringed" — now notice that it's a conditional rule, and its premise in "since..." is no longer true, militias are not necessary for the security of a country; and so the conclusion should lose its power. And arguably it's what the Founders intended: if they meant it as an absolute rule, they would've omitted the first part of it and would have simply stated that "the right of the people to keep and bear arms shall not be infringed", period.