Personally I've been wanting to do a bulk ammo buy for a while, and realized there was going to be a run so I dumped 1000 bucks into some ammo for all the calibers I own.
I'm also in the process of building an AR-10, and have slowly been accumulating parts. Decided to pull the trigger on some of the more expensive parts this week because I caught some good deals.
It's not all panic buying.