[muir_redwoods]

while either version might grant the government the power to regulate militias, neither reading gives the government the power to infringe on the peoples' right to bear arms.

[teeman8r]

Regulate, as in well-regulated, means equipped, not restricted.

Just sayin’

[ought-six]

...while either version might grant the government the power to regulate militias,

"Regulate" in those days did not mean "control over," but rather it meant "well-functioning," such as a "well-regulated clock."