... appears to involve a swat team ready to kill you if you don't agree to surrender voluntarily.

This particular incident wasn't even prompted by a crime.  Someone with a clean criminal record happened to buy guns with his tax refund after being put on administrative leave over a work dispute; someone brought this to the attention of the police, who felt it warranted a pre-emptive mental health evaluation.  Well, if you can use "warranted" for cases where the police don't bother to get a warrant.

The man has been released, his guns have been returned, and he has not been charged with anything.  I hope he sues.

See Orin Kerr's take on the Volokh Conspiracy.  One of the reasons I've been so quiet lately is that I'm spending a lot of time working on something that will fix this.

Of course, some would argue that we don't have any 4th Amendment protection left in our homes, either.

The transcript is available here (PDF format).  Early takes on the argument indicate that incorporation through the due process clause is almost certain, but incorporation through privileges and immunities clause (Gura's main argument) is unlikely.  This is a somewhat disappointing result, since the Slaughterhouse Cases which originally denied the privileges and immunities route are generally accepted to be bad law.  But it's not unexpected.

I may have more to say when I've read the transcript.