In the process of gun shopping with my son, the topic of getting a FFL keeps coming up. I have heard about savings of 50%.
If any one has been able to make the concept work, or has info it would be greatly appreciated as I would like to put this issue to rest and move on or apply for a FFL.

Forget it. Once you are an FFL every firearm you buy or sell has to go through your books. Having a firearm not on your books can get you in trouble. You have to have a place of business listed (double check this one but that is what I recall when I looked into it). Cost is not inexspensive, has to be renewed, and if you are not reselling and keeping a record of it, tax -if your state has it- must be paid. That means business license, state and possibly city forms etc. etc. I concluded, that for me, way too much involved to stay straight with the feds once you were an FFL.
I assume that the savings is allowing you to buy from a distributor rather than a gun shop. Not sure how many will sell to an individual FFL vs shop.

Initial cost is 200.for the FFL plus the paperwork,regs both on the federal and state levels,taxes etc.You would be better off shopping on gunbroker or auctionarms and use your local dealer to transfer to you.Many dealers will charge around 25. for a transfer.There are quite a number of dealers selling for a little over cost on the auction sites.Do some surfing on the auction sites for the items that interest you and it wont take long to find the "good prices".