Yes, and there is no evidence that even a single crime was prevented because of the multi-billion gun registry (which would likely be 20 times as costly in the US). The Canadian gun registry was born out of an incident in Quebec where a crazy old coot killed a police officer who came to his house on an investigation. The police knew he had guns but failed to take the proper precautions. Ignoring the facts, the governing Liberal party and the usual gaggle of leftist organizations used this as the rallying cry for the registration of all guns.
The reason that a gun registry does not work is two-fold. First, there are many people even in Canada who refused to register their guns, so reliance on the gun registry would give police officers a false sense of security. The police should always approach a situation on the assumption that one or more individuals may be armed. Second, it raises the risk of an excessive police response to what would otherwise be a routine call. If the police know you have a registered weapon, are they going to come to a noisy party complaint with their guns drawn? There was a tragedy in Canada some years ago (prior to the gun registry) where the police attempted a raid on a house which they believed contained weapons. They approached the house in the dark, wearing dark clothing, in an assault formation. The owner looked out and saw shadowy figures approaching his house, clearly armed, so he took out his own gun and went out on his front step to defend his property. He was shot and killed by the police. The problem? The police were at the wrong house. They should have been next door. If the police start using the ownership of guns as a pretence to treat the homeowner as a presumptive dangerous criminal, you will see more of this kind of incident.
And yes, the American police have killed innocent people who attempted to defend themselves when police approached their home, in the middle of the night, and attempted to gain entry without identifying themselves as police officers. This is from July 2012:
http://freedomoutpost.com/2012/07/police-kill-man-at-wrong-house-for-opening-door-with-gun/