I own a lot of handloading equipment, but that Lee handpress is a neat piece of gear. It is very inexpensive and I think it is a great way to get into handloading. It isn't fast, but it is convienient. I primarily use mine to size cases in front of the TV although I have taken it to work and snuck off into a dark corner to size cases. I have mainly used it in .223. Factory ammo in that caliber is very cheap, it costs about the same as handloading, but being a handloader I couldn't just leave the brass laying around. I figured if the price was the same the time taken to handload wasn't worth it, but if I could do it while I was relaxing in front of the TV, why not ? Back when all I had was a single stage press, I frequently sized and primed all my empty cases as time premitted. Then when I wanted to load some ammo, it was simple and fast since I had a big bag of sized and primed cases. Just add powder and bullet.
I think those handpresses go for less than $30. You would also need a set of dies and at least a powder scoop which I believe comes with Lee dies. There is a priming attachment for the handpress, which I have but have never tried. If you wanted to upgrade slowly, you could buy a powder scale, a handpriming tool, and a powder measure as time and funds dictate. Then if you ever decided to buy a bench mounted press you would have some of the items that you would use no matter how you eventually decided to load. The dies, priming tool, powder measure and scale would be just as useful if you ever decided to upgrade. Handloading does not have to be expensive or equipment intensive although it certainly can be if that is what you want.
After reading a recent thread on Elmer Keith, I ordered several of his books from Amazon. I am currently reading Sixgun Cartridges and Loads published in 1936. I found it amusing that he discusses many of the topics that come up on here. He even devoted a couple paragraphs to the small rim on the .45 Colt case. He talks about the weak factory loads in this caliber and the poor factory bullets. Something that I was surprised about is the power of the .45 Colt loaded with blackpowder. I believe he was using a 255 grain bullet loaded with 35 grains of FFFG blackpowder. He tells the tale of shooting a mountain goat. He hit it something like 10 or 12 times with some shots at 300 yards !!!!! He says every shot went right thorugh it-even the long range shots and blames the number of shots taken to bring it down on the poor bullet design used by the factory ammo. By the way, even in 1936 he uses the term .45 Colt and never mentions "Long".
I have gotten in numerous discussions about the .45 Colt and almost always had to specify that I was talking about the revolver cartridge and not .45 ACP. So, I guess there is a valid reason for using the term "long Colt". It gets on my nerves for some reason, but it makes sense from a communication standpoint.