Stopped by walmart and one of the LGSs today. Walmarts ammo shelves were barer than usual, although every time I've been by there even before all the fuss they've been pretty low. LGS still had a wall full of EBRs and the sort, and the counter cases were still full of handguns. The only real sign of the fuss there was the distinct lack of many popular mags and ammo and overall prices only looked to be up 10-20%.
I get the impression that my town has a higher than average number of LGSs though, which may contribute to the mitigated impact.