One of the main reasons to have a C&R instead of an FFL ( besides the excellent explanation given above) is that in order to have an FFL you must have an actual storefront with listed hours of operation. I believe this requirement is fairly recent, last 10 years or so. I knew guys that used to have FFL's but no store, they were able to buy and sell guns as a side business.
BTW, to all C&R holders. Midway USA gives C&R holders the same dealer discount as FFL holders. It varies on items, not much discount on ammo but I recently bought a patternmakers vise and saved 25% ($62 vs. $82).
Brownells won't do that, nor will Midsouth, but Midway really has a lot of the same stuff plus reloading supplies, etc. FYI. Just call them to open an account and fax them your C&R.
Rob
