I think the Governor signed it in compromise for something else, maybe budget related. Whoever authored it I believe was just looking to notch another mark in his anti-gun belt. Even on the surface, this law does absolutely nothing.
I am always surprised at new laws - making something illegal doesn't solve anything or remove the problem (if it's considered a problem) - it simply makes it illegal. Stupid people have the mentality that once something is criminalized, the problem just magically goes away.
If I were a gun store, ironically, I'd be in favor of it (for strictly business reasons). It eliminates the only other choice for shooters.
The law doesn't restrict rifle ammo and doesn't restrict components. I reload for rifle calibers, I guess I'll start pistol reloading, too. My fear is suppliers will stop selling any ammunition products, legal or not, to California.
I wonder if toward the end of the year we'll see another run on ammo, fueling hoarding all over again - just when it started to ease. After all, there are 37 million people here.