I got mine last summer and I love having my C&R license. I get military surplus guns shipped directly to my house saving $25 FFL transfer fee each time. So there is already a $200 savings so far just on FFL transfer fees.
I'm a resident of VA. Traveling on business, I take in a gun show in Denver. Lovely little Colt Woodsman, price is right- but as a resident of another state, I can't buy it, except by getting the seller to ship it ($67) to a VA dealer who would transfer it to me ($50). But wait- I have my C&R, which allows me to collect C&R guns at any location. I sign a copy of my license, give to seller with money, take my gun, leave.
New Years Eve, got a PM from a member here- nice little Mossberg 51 at a dealer in Maine. Called them New Years day- we agreed on price, gave them credit card number, emailed them my license, and 4 days later, mailman brought me my rifle.
Local gun shop- copy of my license on file. C&R gun I like, I pay them, get receipt marked "03 FFL on file." No filling out 4473, no waiting or paying for background check. Elapsed time- 15 seconds.
Order from on-line wholesalers. Order from Numrich or Brownells, get discount. Most fun you can have for $30 without the risk of catching something.
Down side, radar. You will be on it. After you get the licence, don't keep anything at the ffl address you can't loose in a heartbeat if the man chooses to raid you. Far fetched. 1500 guns, ammo, computers, and who knows what all was confiscated just a day or so ago from one licence holder.
The feds are funny people, they will do favors for one guy, and arrest someone else for little or nothing, just cause.
If the licence is at all connected to your home, in any way, walls, guns going back and forth, mailing a business letter from your home, or getting a business letter at your home, forwarding your business phone to your home phone, talking about guns at home, or on the phone at home, and everything in your home can be seized.
Ate lunch at your mother's house lately? Hope your mom won't miss all her stuff, or hope she can make bail.
I was an ffl holder, class 2. I had friends in the bureau. I also had people that did my books, that put the fear of god in me.
I never want another ffl. Not in this WWII SS government.