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oh goodie. That means I don't have to obey city or county ordanences, speed limits, or zoneing codes and I can ignore that pesky home owners assosication.

If the state chooses to hand down the abortion law to counties and cities then they can regulate them but it is not likely to happen, they can still "attempt" to pass their own laws but if challenged in court it most likely will not be upheld. And yes you still have to abide by your local laws since your state has allowed them to govern over those issues.

The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people.

Correct, the "people" could take up the issue or the state could delegate it to counties and municipalities.