I think things will ease, but it will take some time for several reasons.
First is supply. Regular shooters stocking up/hoarding and new shooters entering the market after Newtown basically whipped out 6-12 months of inventory, so as ammunition manufacturers produce it, it goes on the store shelves. It will take some time for new inventory to build.
Second, prices should start easing as only those truly desperate will pay the $0.70 - $1.00 per round for 9mm at places like cheaper than dirt. Most people are past that, but as stated in the point above, inventories need to build, it will not ease immediately.
Next, given the events in Boston, I see more people entering the shooting market for self defense as those events have caused some to over react.
Lastly, if you have seen the reaction to the gun control bills defeat in the Senate and how the debate played out from the gun control supporters side, you should realize that things are very different from the 90's or early 2000's. For all the fun at the expense of Biden looking like Walter to Obama's hissy fit, you can see that this is personal. For the gun control crowd, it is now beyond a policy or Constitutional debate. They are just starting with the demonization of all gun owners and our lobby groups like the NRA and GOA. It is going to be 24/7/365 in using language, emotions, and dead children to try to turn the non shooting public against firearms owners. Obama, Feinstein, Giffords, the Newtown parents, Bloomberg, MSNBC, CNN, ABC, NBC, CBS, etc have decided that if you do not agree sub their wishes on gun control, then you are acting in bad faith. They now want to convince as many as possible that this is the truth to marginalize us. They are in it for the long term and long game. The tactics have changed and we cannot go back to sleep until the next Newtown. We must be open about why we own firearms (in my case, I am my own bodyguard because I cannot afford to hire one) so those who do not have firearms, but are not hard core anti, will understand who we really are, and not believe the caricature the media and the gun control crowd has created and will be pushing.