Tam,
Pay attention the next time you read something in the mainstream press about the ficticious "loophole." Almost invariably, you will see some version of the following two sentences in close proximity to each other:
"Only gun dealers holding a Federal Firearms License are required to perform background checks."
and
"Half of all dealers at gun shows do not have FFLs."
Now catch this - notice that the first sentence said "GUN dealers", while the second sentence just said "dealers." Most people will infer that the author is still talking about gun dealers, but he ain't.
The truth is, half of the dealers at gun shows AREN'T SELLING GUNS! They're selling tools, camo, books, t-shirts, hats, beef jerky, WWII memorabilia, and so forth. Thus they don't have (or need) FFLs.
At the gun shows I've attended (Orlando and Lakeland, FL), very very few people selling guns were not FFLs.