Well, a well regulated militia doesn't go around shooting up schools or churches. While that keeps happening, one part of that bargain isn't being kept.
The concept of a militia is so archaic at this point that we don't even have well regulated militias anymore. We have a standing army. And a standing navy. A standing air force . . . the marines. Hell, we even have the Coast Guard, so isn't that like 2 navies? At any point, unfortunately a lack of guns doesn't necessarily mean there won't be tragedies involving schools and other large public places. People who want to be brutally awful will find a way.
War and I both discovered, in the last gun thread that j4d3 posted, that the potential effects of Gun legislation can be ambiguous at best. Australia seems to be a decent case study, though I have to admit that's the only one we really looked in depth into. I think maybe tomorrow, if I have some free time, I'll read up on how gun laws have affected various nations.