I believe the federal gov't does not possess the right to limit gun ownership is how the 2A is written. I am far from a scholar though.
Additionally as time has passed the feds have gotten MUCH more power over FAR more things than the framers intended. I'm not going so far as to say everything the fed has assumed control of they need to get out of, but states rights have been beaten down to the point they are mearly speaking points and rarely have any power.
It was assumed the states would not be so foolish as to limit gun ownership. However central gov't re: kings, were known to want the subjects unarmed. Citizens however were not about to let themselves be treated as subjects. The states had kicked one tyrants aspen out of the country and were not about to have that problem with another long distance leader re: the federal gov't. You must remember the states are every bit as big as the European countries they had left behind, and they pretty much intended to run themselves as such. The federal union was more like a NATO pact of the time.
This is my humble opinion, feel free to correct me. I'm no scholar but that is the jist of what I have taken from the history I have explored.