It allows you to buy C&R firearms without transfering them through and 01 FFL. So if you go to [url]www.aimsurplus.com[/URL] and want a Mosin-Nagant, you sent them your 03 FFL (C&R) and they send you the gun, UPS to your door.
The license IIRC cost $30 for 3 years. Well worth it if you buy 2 C&R guns within the 3 year period. Personally, I have an application sitting on my desk.
You will save huge amounts of money by dealing with companys lie AIM, Century, Empire Arms, etc. They have had deals like 5 Turk Mausers for 100 bucks. 3 Nagants for 100 bucks etc. The list of C&R firearms is huge. You can also trade between collectors and use the mail or UPS to ship. Kiss you closet space goodbye.