Re: Oh and about that loophole,
I've seen postings elsewhere that suggest the 40% number could still be accurate although they do note it includes inheritance. The part that gets overlooked on this is that if you are an FFL, you are required to perform the background check even if you are at a gun show. Which means the ONLY sales that are not going through the background checks are the one on one sales of private citizens. It simply isn't feasible to implement a system to require private citizens to implement an instant background check for the very good reason that you don't want just anybody running background checks on other people. Bottom line, at least 60% of sales are going through the smallish number of dealers (order of 60,000*) as opposed to the 40% that are going through a huge number of private owners (150-200 million or more).
*Even this number could overstate the number of places one would think of as a gun store. I have a friend who collects and therefore registered himself as an FFL for a while. He never traded more than a dozen guns (incoming and outgoing) in a year when he had the license. He dropped it recently because of increased costs for FFLs.