mrp is absolutely correct and crystal clear in his explanation - as are jdege, xd Ed & bstrawse...
cobb made the comment earlier re: test cases - the way I like to put it is that test cases are for rich, bored people. If you are not both, and can handle the potential consequences (i.e. money spent on a court case & possible incarceration should you lose), then I recommend against taking any action you have reason to believe might put you in that situation.
So, the real question you have to answer before strapping on a loaded long gun when you are not hunting & clearly following the DNR regs, is this - do you believe this action has a decent (or better) chance of getting you at least stopped by the police and potentially charged by a DA? If your answer is "yes", and you are not both rich & bored, then I'd avoid it.
If your answer is "no", I'd suggest you think again...

Also, while I generally despise the concept of avoiding something you are OK with because of how it might cause others to be perceived, the political reality right now certainly seems to be exactly as bstrawse described it, and the chances of not only getting charged & tried for carrying a loaded long gun are at least decent, but so are the chances of becoming the reason for a law change that might actually pass. It is both rediculous and sad, but it is what it is...
Finally, all of the above is based on the assumption that this statute has not been tested. ttousi back on the 2nd page indicated that it has in fact been tested but did not give a reference. I trust what he writes on the subject of permits as in my experience he knows what he is talking about, but maybe he can help clear up some of this confusion by posting a link to the test case in question, especially since the rest of us seem to think it hasn't been tested...?