It's a difficult area - I'm not in favour of the general public being allowed to own assault rifles and the like but also, I think our gun laws have gone too far in the opposite direction. Clearly the U.S. has a gun problem but also Switzerland stands out as a highly-armed society which seems to avoid the problems our U.S. cousins suffer from.
I wouldn't want to carry in the U.K. as it stands but in other places, most definitely.
Ultimately, I think Chris Rock has the right idea. Keep the weapons cheap but make the ammunition bloody expensive ($50,000 per round was his suggestion) and then see how many people get shot up.