Alabama Shooter: Before handing it to me he is showing me the various things he likes about it and then says; "look at your sons chest".
I look and there is a red dot on there. He moves it around a little and tells me it is well zeroed. I remain calm but move in front of my son slowly.
He then hands it to me, I roll it open and all the chambers are all full.
I actually broke out into a cold sweat.
Oh man, I'm breaking out in a cold sweat just reading your post. You must have exercised massive restraint by not knocking him out cold right then and there (once you had his gun in your possession of course). I'm not inclined to violence at all, but pointing a loaded firearm at a loved one (especially a child) is one of the few things that would light my fuse. At the very least I'd empty the chambers right then and there and commence some very angry loudspoken lecturing.