Without a long and porous border with a nation where there are few gun regulations, Britain and Japan do very well with strict gun regulations and, by our standards, amazingly peaceful societies. Of course, it's more than gun regulatons or lack thereof that make for a peaceful society. I think it wise to have some rules on gun ownership and gun transactions, particularly for weapons capable of spraying hundreds of rounds within a few seconds. I like the waiting period too. It's probably just anecdotal, but I lived in a small town where an overweight woman was left by her husband for a pretty young woman. She traded her wedding ring for a pistol at a pawn shop one afternoon, then that night shot her two children as they slept and then killed herself. I think a waiting period may have given more time to reason and cope. I used to be a reporter and watch a lot of criminal trials. Organized criminals get guns. But a lot of crime is random and spur of the moment. I've seen plenty of folks go to the pen, who were criminals only for a single violent incident where absence of a really convenient lethal weapon would have been a very good thing.
I'll agree wtih gun proponents that people kill people. The real war is for hearts and minds, not weapons. But intelligent attempts to regulate really lethal weapons make sense to me, so I'm not joining the NRA.