Value of C&R FFL

Friends, While registering my 1937 S/42 with the Military Police here on Fort Meade (an unfortunate requirement for service members who live on military installations), the clerk told me that the C&R FFL was not worth having. According to him, many dealers now refuse to honor the C&R - instead they require collectors to participate in the normal firearms purchasing process (waiting periods, background checks, etc.). Has this been your experience, or is this a problem endemic to Maryland? (Or was he just talking from his posterior area?) I've only used my license once, and it worked fine so I have no real experience with C&R validity. Also, is it even up to the dealer as to which licenses they honor or will the ATF back the little guy? (unlikely I know) Thanks.....Denny Cox