I just found out this morning that Cabelas will not not accept C&R licenses for transfer of firearms that use ammunition that can be purchased over the counter, regardless of the age of the firearm. This from the Hazelwood (St. Louis area) Mo store. Their reasoning, at least from the clerk I spoke with, is that "you could still hurt someone with a gun even though the gun is 100 years old."
I didn't realize that was the thought behind the concept of the various classes of ATF licenses. Somehow, I thought Cabelas management was a cut above this.