The rights protected by the 2nd amendment are rights retained by the people and, in my opinion, are not subject to regulation by states under their powers.
In your opinion. I clearly disagree, finding more agreement with Breyer's dissent in McDonald v. Chicago (2010) that incorporation under the 14th was inappropriate because it is not a fundamental, individual right.
The Second is the only Amendment in the Bill of Rights that explicitly explains the intent behind the right enumerated there -- that the ownership of firearms is intended for the establishment of well functioning militias. That means the right is limited and not fundamental, and the government should have a free hand to regulate so long as that purpose is not thwarted. To hold otherwise is to regulate the militia clause meaningless. I do not think any phrase in the Constitution should be treated so.
If you're implying that the 2nd amendment grants a power to the states then I'd like to understand what structure in the Constitution would give you the impression that anything in the Bill of Rights grants any power to a state.
Well, if you're going to completely disregard the Second, then you must at least look to the Tenth, which held that powers not reserved by the federal government belong to the States or to the people. Note that "the States" is capitalized as a formal term in the same way that "State" is in the Second and in the rest of the Constitution. Once again, this points to the explicit, focused intent of the Amendment to address state and local concerns.
Furthermore, its very clear from the rest of the Constitution that the founders intended the States to still have a large role in the life of their citizens. The structure of the Senate is the clearest expression of that intent, giving an entire house of the legislature over to (originally) state-appointed representatives, balanced between the states.