One of my greater concerns with things like this is...

Yes, legal gun owners will have to sell back their arms and buy ones that are not restricted.
Many people like to hunt or just pop off a few rounds into targets after a long stressful day.

It is the illegal gun owners that will not sell back their arms.
Most of the time, its the illegal gun owners who are using the arms for illegal purposes.

By doing this, it will make the criminals feel almost invicible because they KNOW that anyone they try to rob or kill will not be able to put up a fight...

It just doesn't make much sense to me.