Freudig, I've only come across this sovereign movement over the past few months, and when I'm done with university at the end of this week, I'm going to devote plenty of time to researching this issue in more detail.
However, as much I would love to be a sovereign and only restrained by common law, I see this as a failing plan in the long-term. And this is why: once you leave government jurisdiction, you are powerless to change those very laws that everyone else is still governed by, and you have to live in hope that this government entity will still respect legal precedent and not infringe upon you - doubtful, to say the least.
Do you really believe that the US government is going to respect common law and not claim jurisdiction over you? The people who rule the US are ruthless - politics is a dirty game - and they are not going to care whether you are right on strictly legal grounds. They appoint the judges. They write the legislation. They have the bigger guns, and they're not afraid to use them - need I say Ruby Ridge and Waco. Look at Ed Brown - who may have known common law inside and out - and all the stories of the individuals and groups who have attempted to take the sovereign route. Most of them are either in jail or have been killed in violent confrontations.