"Not as bad as some think" - compared to, say, California or Illinois... no, it's not that bad. Compared to almost anywhere else in the country, even Maryland and New York state (the city being a rather nastier animal), it's atrocious. The major points:
* In order to buy any firearm, you must have a Firearms Purchaser ID Card.
* In order to buy a handgun, you must have a Permit to Purchase a Handgun... for each handgun you purchase.
* For either of the above, you must provide two character references.
* You can only buy one handgun per month.
* Every ammo purchase must be logged.
* Carry permits are nearly impossible to obtain without political influence or a sum of money large enough to buy said influence.
* Even if you do get a carry permit, you can't carry anything but FMJ.
* "Assault weapon" ban, nearly identical to the 1994 Clinton abomination, including a magazine capacity restriction (15rds) among other things.
* Transport law prohibits any movement of firearms except under specific circumstances, which are exceedingly difficult to prove should you be required to in court. In addition to the guns themselves being in locked cases, ammo must be in a separate locked case, the guns cannot have unloaded magazines inserted, and loaded magazines or speedloaders may not be transported, period.
* All the usual problems associated with living within commuting distance of four major gun-unfriendly cities (NYC, DC, Philly, and Baltimore), and several extremely well-funded anti-gun activists... some of whom *coughBloombergcough* hold or regularly buy political offices.
*Courts and State Police well known to be hostile to gun owners and gun ownership, to the point where they will outright ignore laws in order to stack the deck.
* NJ is the only state in the Union which requires that all NICS calls be made through the State Police rather than directly from the dealer. The going rate for the privilege of having that extra obstacle imposed on you is $15.90 per purchase.
Is it the worst place in the country? No, but unlike other states where the strongest anti-gun laws and sentiments are concentrated in and around the major cities, with holdouts of sensibility in rural areas (like in NY or CA), NJ is rotten all over. Our gun laws are consistent across the state, and they're consistently bad.