The Second Amendment to the Constitution, the one that protects the Right to "Keep and Bear Arms", has been argued over for years. The Supreme Court has not taken a look at it since the 1930's, but yesterday they agreed to review a lower court ruling that overturned a Washington D.C. handgun ban, based on an individuals right under the Second Amendment. Other courts have ruled otherwise in other parts of the US, and there is considerable confusion over the meaning of the Amendment. Eugene Volokh has much, much more on this case, including some very persuasive arguments for the individual rights viewpoint. Just keep scrolling.
Whatever way the Supremes decide, their decision will be monumental - and will be a major factor in the '08 election.
UPDATE: Why I am not supporting Mitt Romney - as governor of a State (sorry, Commonwealth") with some of the most oppressive firearms laws in the nation, some of which he enacted, Mitt had the stones to issue this about the Supreme Court's action yesterday. Flip-flopping Brahmin hypocrite.