I've only been reloading for the last 10.5yr. One day, I counted the .45 Colt cases I had kept - over 2,700! I did the math - at my price, a bit less because I worked at the range, I would break even - including the Dillon 550B, dies, scale, tumbler, etc - at 2,100 rounds. I bought the equipment and a new hobby was started.
You cannot use just the cost of powder & primers in determing per round cost. You must amortize the reloading press, etc, cost first. Sure, you 'acquired' the brass - but it has a finite life and you have tumbling medium and polish to contend with. Pour your own bullets with 'free' lead? The equipment required to do that wasn't free - and you'll need lube, etc. Bullet boxes? Sure - headfirst in the range dumpster can yield some nice boxes, just wipe off the pickles, pop, and fries. Then there is the 'footprint' in your home dedicated to reloading - and ammo and component storage.
I've found the following to be more descriptive of the reality of reloading: You won't shoot more cheaply, you'll just shoot more! It is a hobby into itself - and today, the component 'shortage' is just as aggravating as is the ammo shortage. I ordered 500 .327 Fed Mag cases from one source and 500 matching bullets from another source on April 4th. Both sources had my order 'in stock'. The bullets arrived yesterday, but the other source is way behind - weeks, even - and I don't expect them until May. Aggravating? I have plenty of lead and .32 S&WL cases - I'll reload them. First, I'll finish some more .45 ACP ball ammo... I always have something to reload!
Stainz