There was a recent New York Times article on toy safety regulations – on the struggle and potentially devastating consequences of defining a children's product. Is a football a toy, or is it a general use item, as many adults play with them as well? Is a Halloween costume for children? The lines are blurry and the entire debate becomes a morass of conflicting opinions of what is and is not a children's product.
Take a deep breath, count to 10, and get ahold of yourself. I suggest the K.I.S.S. approach – a deceptively powerful rule of thumb for all aspects of human endeavor. "Keep It Simple, Stupid." Regulate only the offending products: magnetic construction sets, teeny tiny toy parts, and whatever else has been found to defy safety standards. Keep a close eye on only the offending companies. Leave everyone and everything else alone.
Keep It stupidly simple. The alternative leads to madness. It already has, and more madness will follow without benefit in kind.