Text: “A well regulated Militia, being necessary to the security of a free State, the right of the people to keep and bear Arms, shall not be infringed.”
To me, this certainly means that the Founders valued the ability for armed citizens to serve as a militia, and that by keeping this militia armed, the government or an invading force would not be able to oppress them greatly. (Back in the day, this Well-Regulated Militia consisted of all the able-bodied men and older boys going out after church on Sunday with their Constitutionally-mandated firearms and practicing shooting for the afternoon. If we were to go back to that, their right to bear arms shall not be infringed.)
Keeping in mind that the Founders didn’t favor having a standing army at all times, this Militia was supposed to be our nation’s military force – by the people, of the people, and for the people. However, we now have an army, which, while it certainly employs the people, is not the same kind of organic, populist militia the Founders expected us to have. I would say that having a standing army makes the 2nd Amendment moot, but I don’t want to be interpreted as being necessarily pro-standing-army.
Nowadays, though, I don’t think that the right for “regular citizens” to have guns (defined as “not being used in a militia”) has very much to do with the second amendment. I do think they have the right to guns for self defense, but I don’t base it on the Second. And I can’t see a good purpose for extreme shooting power in civilian hands (unless they are, like the Constitution says, participating in the security of a free State), but handguns aren’t necessarily “extreme.”
In short: yes guns, but not due to the Second Amendment, which doesn’t seem to talk about non-militia use thereof.