You are optimistic, some of the manufacturers say 9 to 12 months if demand goes down to normal. Firearms, most of them are starting to get back in stock, but prices are not falling yet. Ammo, especially .22LR, is still out of stock everywhere and sells out in minutes when it comes in.
Those dealers who have not raised prices dramatically the way so many others have will get my business for years. I can find .22LR online for $0.25 to $0.50 a shot, but I'm not going to pay that. When those sites drop their prices again on these products, I will not be a customer. I'll be going with WalMart and a local gun shop that has raised their prices about 20% instead of by a factor of ten - once the gougers stop buying from them to resell at a gun show (I do not buy gun show ammo either). I'm not convinced that we will recover as quickly as a year, but I expect a price recovery, if we manage to avoid the second civil war that Obama wants so much to provoke.