Addendum to my pro-regulatory, pro-card-carrying message above, which may ruffle some feathers with regards to of privacy rights and personal freedom:
When it comes to real firearms that can be used to defend yourself and your family, I would personally advocate a stay-out-of-my-business, Second Amendment, libertarian stance. I can see the logic when applied to the "if all goes to shit" scenario, and it also feels correct when considered for hunting and stuff. I think many people in this country feel that way and so it makes sense that we have the urge to keep guns legal but to make toy guns illegal.
On the topic of replicas and toys that heavily overlap with the social circles of youth culture and such, I think we could gain something by taking the more British (and therefore Nanny-state style) stance on this. I don't think we can count on Canada becoming dramatically more pro-gun over time, but we can probably pull off what the Brits have pretty easily with the right campaigning and marketing.