There's 2 different thoughts; headspaces on case mouth VS headspaces on shoulder. I believe it headspaces on the shoulder, I think that's the consensus now anyway.
IF you spend the money up front (Dillon Carbide dies) I've found the 357S to be no more difficult to reload than any other caliber. Pay attention to the bullet profile; long bearing surface, flat nose and use a slower case filling powder and you won't have issues.
Lots of guys size first using a .40/10mm die, then size the neck using a 357S die. To me it adds an extra step, so I pried open my wallet and bought the Dillon carbide dies. I just make sure the cases have a good polish, and run them into the sizer as step 1 on my Dilloon 550. Other than that, it might as well be a 9mm, as a matter of fact I reload 357S cheaper than I can .40 due to the 124 or 125 grain cost VS 165s......
Chuck