Quoted: another question, it said on one of the pages you aren't suppose to use the C&R to make a profit. So does this mean you cant sell a few of the guns in your collection? what are the rules of selling?
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Yes, you can sell from your collection. You'll probably only make the ATF radar screen if you're selling several guns every month. If you sell one or two every once in awhile, you have no problems. IOW, if you're selling part of your collection for the purpose of buying more guns to add to your collection, no problem.
BTW, I just walked a relative in Eureka, CA through the C&R application process. It's not a big deal. Go for it and have fun!!
Edited to add:
Just make sure you keep your records (bound book) up to date. If you are ever inspected by the ATF, which as mentioned is unlikely, you shouldn't have any problems.