The Supreme Court has affirmed that "reasonable restrictions" are allowed, though out-rights bands or virtual bands (the later being a license requirement and then not issuing licenses) are unconstitutional.
Actually, the term "reasonable restrictions" appears (accordingly to my version of Adobe Acrobat) only once, and that is in Mr. Justice Stevens' dissent.
So, while the pundits have made the same statement as quoted herein, I don't believe it to be correct. Indeed, the language I quoted earlier today suggests that the "balancing" between the fundamental right and societal concerns has been precluded by Heller, which is now applicable to the states.
http://www.northeastshooters.com/vb...ll-50-States?p=1474894&highlight=#post1474894
The issue, rather, will be defining the boundaries of the 2d Amendment right -- similar to defining the boundaries of, say, the 1st Amendment right -- and then concluding that within those boundaries, the right is absolute. Thus, for instance, it has been decided that the 1st Amendment right does not include the right yell "Fire!" in a crowded theatre or to sell stocks by a fraudulent statement. However, it does include (incorrectly, in my view) the right to dance nude in a bar or set fire to the American flag, and as to those included activities, no regulation is permitted.
Thus far, the only issue as to scope of the right that the Court has declared involves possession in the house for purposes of self-defense. This is, in part, the way Courts work: they are supposed to resolve the dispute before them, not anticipate future issues, and in both Heller and McDonald, the plaintiffs complained of not being able to possess handguns in their houses for self defense.
As a consequence, fleshing out the boundaries and dimensions of the 2d Amendment right will require more court decisions resolving new disputes. Two obvious issues on the horizon are: a) the right to carry beyond one's curtilege, and b) the right to possess certain types of weapons (such as pre-ban M4 clones). Today, we can neither say that either is included or not included (though I have my own predictions as to how things will turn out).