According to emails from the NSSF and GOA, Facebook post from man + dog and a number of blogs, it seems that BATFE has decided in the face of overwhelming criticism not to move ahead with their framework to justify banning the most popular 5.56x45 ammunition on the face of the planet at this time.
Don't get me wrong, I'm grateful for all our victories, even ones as small as this one. And this, make no mistake about it, is a small victory indeed. They didn't say this is dead, just that they are going to review the issue in more depth given the fact they got snowed under in comments on the subject. I suspect the fact that a couple of hundred of them came from Congresscritters didn't exactly hurt. But this is not over, not by a long shot. They'll be back. Obama has way too much time left in office. The pressure from above is too great. They'll figure out where they screwed it up, fix it and they'll be back.
Something I have seen tossed out in various places on our side of the discussion during this current foray into stupidity is the concept that this is nothing more than a symptom of a bad law, in this case the 1968 Gun Control Act. I heartily agree, and I believe that while there are a bunch of "R"s who are theoretically in control of Congress, now is the time to begin the process of either repealing that egregious POS in its entirety or amending the crap out of it so that it's worst problems are abated. I'm sure Obama would veto it, but getting the language passed once will make it easier to pass a second time with a President who is theoretically friendlier to our rights.
You might want to keep writing letters to your Congresscritters suggesting such things while we have their attention. Just a suggestion.