It seems like it should, to some degree.
If for instance magazines are limited to 10 rounds that should reduce the rate of aimed fire by maybe 50%. It is easy to shoot at least 5 rounds in the time it takes to change a magazine.
I think he meant that no one is going to be shooting back at you if it’s a gun free zone, so having to reload is not going to change the outcome very much, if at all.
How long did Lanza's shooting spree last?
If for instance magazines are limited to 10 rounds that should reduce the rate of aimed fire by maybe 50%. It is easy to shoot at least 5 rounds in the time it takes to change a magazine.
There are two other factors to consider; weight and space.
When considering weight each extra empty magazine may cost you the weight of 5 extra rounds you can carry.
When considering space each extra magazine could cost you 10 or twenty rounds. I say this because the shooter in the case in question was wearing tactical vest designed specifically for carrying magazines. If you have a ten round magazine occupying the space that a 20 or 30 round magazine would have occupied you are loosing significant ammunition.
But in reality limiting the magazine capacity would simply force a strategy change for a mass murderer. He would either choose another weapon or method of killing.