I've been studying the law lately.
The National Firearm Act is pretty clear.
The revisions to the NFA from GCA '68 are also clear.
The revisions to the NFA by FOPA are less clear, but only apply to machine guns.
These define what an NFA item is and who can own them.
All of the murk is from regulation.
The regulation has defined a process that's unnecessarily slow and cumbersome.
There's nothing in the law that says that an NFA acquisition cannot be done in a few minutes using a NICS-like system and having the seller collect and submit the transfer tax.
There's nothing in the law that says someone submitting a Form 1 can't do a NICS-like check and mail in a "proof of purchase" with their $200 check.
There was no law that required telling the local top-cop about your NFA items.
All the law requires is $200 be paid before you make an NFA item for yourself, or $200 or $5 to obtain one from someone else. All the law requires is you not be a prohibited person.
Everything else is regulation.
Something that an executive officer, such a the president, could order changed with the stroke of pen and the delay of a comment period.