[William Tell]

I think the author misses slightly by not recognizing that the term "well regulated" means "properly functioning". A well regulated clock keeps accurate time.

The term doesn't refer to being under the control of a government.

[ctdonath2]

Even if the term DOES mean “under control of the government”, it still works our way.
A valid interpretation of the 2ndA amounts to “even though we grudgingly acknowledge a standing army is necessary, the people STILL have an inalienable right to own military weapons”. The Founding Fathers disliked the idea of a standing army, but realized one was necessary (armed populace is great in theory, but not reliable come organized international warfare). In granting the government the power to raise and maintain a standing army, they clarified that doing so in no way justified disarming the populace.
The awkward wording makes more sense this way, and still comes to the same conclusion.

[AzSteven]

In the usage of the 18th century, ‘regulated’ had a somewhat different meaning. A definition included in a 1980 edition of the Random House College Dictionary shows “of troops: properly disciplined.” From other writings at the time there was a great concern that the militia be well equipped and knowledgeable in the use of their arms. That pre-supposes the militia (defined as all of the people) have access to arms.

[horsappl]

Agreed.

[horsappl]

REGULATE
control or maintain the rate or speed of (a machine or process) so that it operates properly: a hormone which regulates metabolism

http://oxforddictionaries.com/definition/english/regulate?q=regulated

Controlled militia or Maintained militia. “Maintained” is the logical usage in the context of the RKBA.

Thanks for pointing that out.