Michael Bane has a very important post up on yet another ATF abuse. Be sure to go over there and give the whole thing a read.
In a nutshell, it seems like ATF may prosecute custom gunsmiths for “manufacturing” a gun without a license. The new definition of manufacturing is if a gunsmith substantially altered a gun from its original appearance. That seems to me to be the very definition of custom gunsmithing.
It may be a tempest in a teapot, but if not it needs to be nipped in the bud.