It's those last two criteria that make all my points legitimate, and real, concerns. Unless you do the federal paperwork, you leave yourself exposed to whatever Law Enforcement should decide is warranted.
Besides which, there are a tremendous number of LE personnel that have nothing better to do than go through records. What makes you think they aren't or haven't already investigated you, especially if you ever purchased a firearm from a legitimate dealer.
When it comes to my guns, I am just a bit on the paranoid side I reckon. As far as the government being able to keep their noses out of records I give them, they've already demonstrated that they they can't be trusted on that count, several times over.
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The ultimate result of shielding men from the effects of folly is to fill the world with fools.
-- Herbert Spencer, English Philosopher (1820-1903)