You're trolling right? You do realize that CA already has the loophole law in place. Any firearm sale between two parties who are not authorized dealers must be conducted by an FFL, and a background check must be performed. Private sales are already illegal in CA. Furthermore, the sale of assault weapons in CA are illegal as well. You can only sell to a Peace Officer. You can't even sell your assault rifle to a gun shop.
So, tell me again how well this law works? 
The thing is you can talk about a CA law, or as is often argued here "CHICAGO HAS TOUGHER GUN LAWS AND X AMOUNT MURDERS SO WUT U TINK BOUT DAT?"...
It is an issue of proximity and borders. If you've no borders to police the movement of goods (guns etc) how can you enforce such a law or say it works/does not work? I doubt there are checkpoints around Chicago, yet if you drove a couple of hours you are in the mid west and could buy a cruise missile, an ex army ATV and a 50 caliber gun, no questions asked, and fuck the government if they dare question that transaction - for profit.
I am a realist - I think you should be able to have guns (and drugs etc - your choice, just don't harm others is my guideline, unless they try to harm you). However, you can't denegrate a law when it is made unenforceable by your constitution, state and national law. It is just writing on paper to appease people, not a law.