You are wrong. No one was permitted to just have whatever ordinance they wanted.
Long rifles and handguns and other personal firearms are protected. The argument has always been how big of a weapon is protected at the "unabridged" level.
From what I understand (and I am not ANY sort of expert on firearms) up to a 20millimeter is the personal thresh hold accepted in practice (I say practice because I am sure there are plenty of cases arguing it either way.)
I don't have one of these, but I want one. From what I understand they usually are fabricated with about a 6' barrel and can be fired "accurately" over 5 miles.
I want a couple of em. actually!
Before the NFA in 1934, there were no restrictions. Anyone could and did build whatever they wanted to, as they saw fit to do. They could make and have whatever explosives they wanted. The NFA wasn't changed until the 60s. That's when the more draconian measures were put into place, as far as I know. The limit on caliber is .50 for modern weapons. Otherwise it's classified as a destructive device- the same as a good firecracker.