Bang on! A true compromise would be along along the line of:
The handguns a citizen registers would qualify for "shall issue" permits.
This is the compromise that gun-owners should have demanded with the enactment of the Brady Bill. Gun-owners should have said, "fine, but if we are law-abibing enough to purchse a handgun, then we are law-abiding enough to carry it. Unfortunately, in 1994 gun-owners were too demoralized and weakened by infighting to force such a compromise. We missed our chance.
There is no compromise that would make registration easier to swallow as registration is and of itself the death-knell of 2nd Amendment rights and will undoubtedly precede confiscation. Concealed-Carry permits will be of little use if handgun-ownership is illegal.