I think you're all partly right.
There is a somewhat effective paper trail for guns purchased through an FFL, but true registration IMO would a system which tracks firearms and can provide the government with the name of the person who owns a given firearm at a given moment in time.
That's not to say the paper trail that exists couldn't be used for confiscation, if the government wanted to put resources into it.
I rarely recommend someone argue in a forum. State your point and other people either get it or they don't. It's not worth the hassle to me.