Actually, I think guns should be as regulated as cars. You should need to pass a test to get your license and the thing should be registered and insured.
You only have to license, register, and insure your vehicle if you
use it on public roads. If you use it on private land, or you transport it using a trailer then it doesn't have to have any of that.
To make the same situation work for guns, you'd have to define simply carrying a gun in public as "using" it, which doesn't exactly translate. You'd also have to determine whether a loaded gun is usable or not - so could one carry an unloaded gun if it's not registered or licensed? States grapple with this a little bit for the open carry and concealed carry laws, if you transport guns without a concealed carry license there are rules for how it can be transported and whether it's loaded or not.
If you only plan on keeping it at home, and using it only on your property, and never taking it on public lands, usable or not, you can't legally be forced to register it - again without changing the second amendment, or its interpretation.
If you only hunt with it, and store the gun and ammo in separate locked containers or disassembled between home and private land where you have permission to shoot you again can't force licensing and registration.
But the real problem with licensing and registration is that you completely defeat the "tyranny" part of the second amendment. If the gov't has a list of gun owners and users, they can quickly reduce the gun ownership to near zero. Even if you somehow grappled with the issues above regarding public vs personal property and use, you'd still have to modify the second amendment. Either eliminate the word "infringe" or the whole "free state" bit.
Please keep in mind that this is also complicated by the fact that states have a desire to prevent federal tyranny, and so it's important for, say, texas to make sure its citizens are armed in such a way that the federal government can't dissolve the state of texas and replace all its leadership with federal leadership. This is important because the constitution forbids the states have their own standing army. Note that each state has a national guard - but it's a federal military, only employed by the state, and the federal government holds the reins.
Regarding the "well regulated militia" part, one can read the supreme court's interpretation of that passage here:
http://en.wikipedia.org/wiki/District_of_Columbia_v._Heller
It does not mean that people have to be part of a militia in order to legally obtain guns, nor can the law restrict them in that manner.
We've done about all we can for gun control without changing the second amendment. The next step would actually be to redefine gun ownership nationwide by rewriting the second amendment. At that point all these, and many more, options are on the table. Until then, though, nothing else can be done.