Please don't get complacent. What happened is Feinstein was told that her AWB (S. 150) will not be part of the "base gun control bill" offered by Dems. This means that the bill that gets a floor vote will not have AWB language in it. However, Feinstein can still offer her bill as an amendment to this bill (or any other gun bill) and if she has the votes (50 or 60 depending on the procedural tactics used) it will become part of whatever bill she tries to attach it to.
The reason they did this is because the Dem leadership really wants registration and they are afraid that putting the AWB in the base bill will kill all of their gun control - and cause them to lose Senate races in 2014.
The game here is with the AWB separate, your not-so-Second-Amendment-friendly Senators can tell you in 2014: "I support the Second Amendment and voted against gun and magazine bans; however I continue to support reasonable, common-sense gun laws like (having you stupid hillbillies tell me what guns and magazines you own so that after I'm re-elected I can fix that) universal background checks."