Oh, that.
Tom Servo is just trying to keep competition down by scaring potential new FFLs.
(Just kidding)
Really though, it's not all that big of a deal. You need proper storage (literally a locking gun cabinet is compliant) and a notebook which contains the gun info, names, addresses and what-not of purchasers. The compliance check is scary and all I suppose but if you keep your records straight and guns locked-up appropriately, it's really not a big deal.
Some of the people I've known that do it, well, if they can do it, I could train a chimpanzee to do it.
