There are some definite no-nos, like assault-weapons. And if you want to regulate, instead of prohibit, you have to invest into a good gun culture, which we really don't know anything about. That would be a big social engineering challenge.
There are some advantages, like lone-shooter type events becoming much less insidious, which don't cost as many lives as say sedentary life-styles, but being powerless in those (improbable) situations makes us very insecure. That insecurity is very erosive and tiring; but on the other hand, if gun-carry was implemented, and we didn't have a good enough culture, you'd get "casual" shootings, where what would have been a fist fight turned into a gun fight.
There's also the argument about whether or not to treat adults as inherently competent. Prohibition, i.e. complete deregulation, all in all seems to me like a quick hack; of course, the other side of the coin is that good regulation is really hard. I'm somewhat torn, but leaning towards regulation. To me it seems like one of those decisions that isn't easy, because it's not win-win-win across the board, but it's worse if you don't do it.
Of course this is mostly fantasy. I don't think we'll see gun-carry in the West any time soon. We're used to complete delegation of personal-security and the shift, at this point, would be counter-cultural.
What part of the West are you talking about? It's super common in vast swathes of the US.
https://en.wikipedia.org/wiki/Firearms_policy_in_the_United_...
Militarization of police in USA is good example. They will always outgun you.
Anyone who thinks that firearms purchased through their local gun store will do anything to stop a truly tyrannical government is living in a fantasy.
Police and soldiers (should) have different goals and tools.
We haven't (thank god) had a situation in the USA where actually shooting at law enforcement is a good idea. That is, where you're literally at war with the government and trying to replace it with another one, which will in turn recognise your actions as not against the law. On the other hand, things like home invasions happen daily.