I would humbly point out, that with an 03 C&R FFL, available to collectors across the US, $30 for 3 ears, my waiting period is how long it takes me to remove a copy of license from wallet, sign my name, hand it to dealer. That is also all of the dealer paperwork I have on purchase of a C&R firearm.
OK- downside? You stay broke a lot. But happy.