Want to just back that up? I've seen evidence to the contrary, posted earlier in this thread, so if you've got something newer or more authoritative, now is the time to produce it.
Summary of Federal Law
Federal law establishes the baseline regarding the types of persons who are ineligible to purchase firearms. The federal Gun Control Act of 1968, codified at 18 U.S.C. § 922, generally prohibits the sale of firearms to any person who:
Has been convicted of, or is under indictment for, a crime punishable by imprisonment for more than one year;23
Is a fugitive from justice;
Is an unlawful user of or addicted to a controlled substance;24
Is underage;25
Has been adjudicated as a mental defective or committed to a mental institution;26
Is unlawfully in the United States or has been admitted to the U.S. under a nonimmigrant visa;
Has been dishonorably discharged from the military;
Has renounced his or her U.S. citizenship;
Is subject to a court order restraining him or her from harassing, stalking or threatening an intimate partner, his or her child or a child of a partner, or engaging in other conduct that would place an intimate partner in reasonable fear of bodily injury to the partner or child; or
Has been convicted of a misdemeanor offense of domestic violence.27
A crime punishable by more than year in prison is usually a felony but there is an exception for certain felony crimes of a nonviolent nature. So it's not true that ALL felonies will exempt you from gun ownership. But most will