Tom B,
"You cannot purchase a handgun from a FFL or private
party in a state that is not your residence"
So, all those dealers in Shotgun News selling handguns to people and shipping them out of state (via an FFL holder) are breaking the law? Shouldn't somebody tell them that? I think that if you purchase any firearm (handgun, shotgun, rifle - not class III) from one FFL dealer, who ships it to your local FFL dealer and then you pass the background check, you have broken no FEDERAL laws. State laws will be another story.
Besides, there would be very little LEGAL difference between that and the FFL holder himself (herself) purchasing the (insert type of handgun here) from an out of state FFL dealer and then selling it to me or someone else. Happens all day, every day, and it's called interstate commerce (intra state? - I always get those two confused). Not every FFL purchases their stock directly from manufacturers. Lew Horton is an ideal example. He sells short run, performance center produced S&W revolvers and autos. He does business all over the US. And I had no problems ordering a particular revolver from him and had it shipped to my FFL holder.
So, you might want to rethink this a little. According to the way you put forward your interpretation of this law, NO HANDGUN could be sold outside the manufacturers state, and I KNOW that's hooey.
If you are talking about NOT using FFL holders and trying to avoid any type of registration, then yes, it MAY be illegal, depending on the state you are talking about. UPS has made it more expensive (not illegal) to ship handguns, that's why I don't use them any more, as their excuse was extremely poor (they couldn't adequately keep track of handguns if THEY WEREN'T shipped overnight - so all those pills, cameras, jewelery, etc, THEY CAN keep track of without using overnight express, it's only HANDGUNS they can't keep track of - so I'm supposed to pay more because they can't control their employee theft problems - yeah right!).