I do. and my job is to meet regulations for a commercial product.
In the time I've been doing this work, I've seen a major change in industry attitude toward those regulations, from very adveserial to more of a partnership. Not to say that we bend over backwards to meet demands, but I do fully see that our cooperation leads to better answers when we question proposals.
IMHO, a lot of the issues and problems you find can be traced to financial issues- extra paperwork is required to make sure that as little money as possible is used to spend money (this can easily trace the development of both the M16 and the Bradley, where the attempt was to get more for the money, which, naturally, backfired), or lack of personnel to attend to the above paperwork- again, to limit government payrolls to save money.
There's buracracy in every major company in the world, and there's major corruption and waste in every company. What you never, ever see is that waste and corruption that's totally legal- but it happens, and I am certain that many of you can relate to that in your own company. But in the government, virtually every penny is argued about, to the point that money is traced by the second to "make sure" it's not being wasted, which, of course, is a waste. We, as a loud society, force that as everyone hates what they deem as waste.
As for the regulations- I was at an interesting talk last night about farming, and this person is very anti government regulation, but he had a great analogy- you have the right to make a fist and swing it around, but you don't have the right to go past my nose with that fist. Now, define the fist and define the nose. In my case, the fist is the air we breath, and how cars impact that, and the nose is your lungs. In other cases, the fist is accounting, and the nose is my investment. You may be allowed to do a lot, but when do you cross the line from risking you to risking others in a way that we deem as unacceptable?
The new problem with that is when regulations are then taken as good ideas and good intentions, and twisted to protect some, and make it impossible for others to compete. That does need to be worked on better.
Anyway, I'm fine with the idea of regulations, but see that we need more equal (and non advesorial) representation when the regulations are written and modified.