I disagree. I don't believe it possible that the 1st and 2nd (or several other of the bill of rights) could be repealed. To ratify, it would take 3/4 of the state legislatures, or at least 38 states. The votes just don't exist, not now. There are more than 12 states that have a keep and bear arms amendment in their own state constitutions: in fact, over half of them, IIRC.
Actually, a constitutional convention by the state governments might be a good thing. It would almost certainly NOT be focused on granting the federal government more power. Term limits is an interesting idea, too. There's no way congress is ever going to adopt it on themselves: the states making a constitutional amendment is the only way it could ever happen.
As far as the "fair" tax: a consumption tax would be a better way to go than a slavery tax...err. income tax. Better still would be to simply stop empire building and do away with the income tax with NO replacement.