All fair points.
I guess I was looking at it from a criminal perspective. These same Chicago gangs are able to import cocaine from Colombia, ecstasy from Amsterdam, heroin from Afghanistan, hell even knock off purses and electronics from China, I don't see why they wouldn't just expand and sell Romanian AK-47's or bootleg Chinese glocks.
Personally I wouldn't mind biometrics on my guns but would HATE any kind of registry.