VaniB has a sobering point, about tacking the AWB onto this bill. If this is done, I am for the bill's defeat, since it would certainly restrict our rights even more.
Reno, I most resectfully disagree with you. It may be because our respective locations and the political climates we each live in, but I have no sence of "serfdom" in relation to the police. Yes, I'm aware of abuses and attitudes (remember the "Southern Sheriff" stereotype?), but I've always treated LEOs with courtesy and respect (NOT subservience) and have had little trouble.
Back to the bill: Many of the pols who have come on board have previously been as opposed to off-duty and retired LEOs carrying as they are to private citizens. I see this bill as a small step in regaining our rights.
The gun-grabbers have been working on this since the mid-Sixties (earlier, if you count NFA and the "Sullivan laws" of NYC). They have been willing to take a small nibble at a time from our rights, and never give up. On the other hand, we (the God Guys) tend to try to get it all at once, then go and sulk if we don't. We didn't get into this state overnight, and, barring some sort of miracle, we won't get out overnight.
If, in this go-'round, we can overturn the AWB and take back a little of our rights under the Constitution, even if only for a particular group, it will be a victory, and a shift in momentum.