If the citizen militia was to "execute the Laws of the Union, suppress Insurrections and repel Invasions", you feel they could do this with arms limited to those which a person could bear?
I guess I don't understand what you're saying. Does the second amendment protect an individual right for self defense or was it written to protect the right of the citizens, collectively, to form a well regulated (organized and armed) state militia?
It seems like you want to say it does both, but then you're forced to come up with a definition of "arms" that I don't see in the second amendment. Perhaps if it said "firearms" I might agree with your interpretation.