I agree with PT111 that confiscation, while not impossible, is extremely unlikely. Remember too that there's a very good chance that even with a Democrat Congress and White House, there still may not be another AWB. Not all the Democrats in Congress are ultra-liberal and I'd be willing to bet that many of them haven't forgotten the backlash after the first one passed. Gun control kind of seems to be on the back burner for the Democrats right now because it's been a losing issue for them for the past eight years. Sure, you'll still have Kennedy, Feinstein, Schumer, and Pelosi screaming about it, but that's mainly to play to the liberal base as they'd be unlikely to get a "Blue Dog" southern or midwestern Democrat to go along with it (particularly in the House). Does this mean we should stop worrying about it? Heck no, the political fight is nowhere near over. However, I don't think we need to be in panic mode just yet.
Smith, and Wesson, and Me. -H. Callahan
Well waddaya know, one buwwet weft! -E. Fudd
All bad precedents begin as justifiable measures. -J. Caesar