It seems that the Judge believes that the Constitution means what it says. Pull quote:
Government is not free to impose its own new policy choices on American citizens where constitutional rights are concerned, California may certainly conceive of a policy that a modern rifle is dangerous in the hands of a criminal, and that therefore it is good public policy to keep modern rifles out of the hands of every citizen. The Second Amendment stands as a shield from government imposition of that policy.
The ruling will take effect on July 4. The Usual Suspects there say they will appeal.