I agree that if good old boy Charlie wants to sell a gun to good old boy Bubba who just wants a shotgun to go 'coon hunting, the paperwork that would be required is ridiculous. But what if Bubba is actually a member of the Mexican Mafia?
As the saying goes "Only a good man with a gun can stop a bad man who wants to buy that gun."
The market for untraceable guns will increase - no question. But honest gun owners or just those who fear imprisonment by the Feds, will not be selling their guns under the table to shady characters - especially shady characters who pretend that they haven't just crawled out from underneath a rock.
The laws of supply and demand will ensure that the cost of an illegal gun will sky rocket. I was listening to a report on NPR about gang violence in the schools. Several gang members said that they got their guns for free, just for joining a gang. These kids were like 13 or 14 years old!
If higher gun prices on the black market makes it too costly to hand out a free gun to a 13 year-old, the background check law will not have been enacted in vain.