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Jonnyc,
I agree. I can see trying to buy several guns so the best of the lot can be kept and the rest sold, but that comes very close to buying with the intention of selling which, as you say, is the definition of doing business.
I have seen C&R collectors brag about buying up to a hundred guns at a time, and know of one who got into trouble (I don't know the full story) when several crime guns were traced to him. I have heard that BATFE now requires distributors to report multiple sales to 03 license holders, so that might put a damper on some of the worse shenanigans.
(BTW, the C&R license is a target of the anti-gun gang, along with the CMP, and any problems they learn about add to their ammuniton.)
Jim
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