the words are 'well-regulated' and they do not refer to the national guard nor do they refer to government regulations. yes, I belong to one and I am well regulated, thanks to 6 years of training and work as a US Marine.
my opinion of buybacks is that they are totally misguided. For one, it subtly suggests that the guns weren't ours to begin with, but the governments and now they are buying them back from us. Secondly, it exposes the hypocrisy of law enforcement. the whole idea that they espouse for buy backs is to get guns out of circulation in the streets, yet to pad their department budget, they are selling them back to gun dealers who will sell them to private individuals. it essentially does nothing.