I believe the benefits of having the exact ammo you want probably outweight the cost savings. Over a lifetime though you can save yourself some money, but the actual return on the equipment investment will be slow. If you figure in your labor you are probably better off buying new ammo.
I feel reloading is a part of the sport, you have the ability to tailor loads to your situation and that puts you on a different level. You have to want to reload, it can not be a duty. If it feels like work, again you may be better off with new ammo.
I have reloaded 12ga. shotgun for trapshooting for many years. I feel I can produce a shell that is as good quality wise as any premium shell like a AA or STS for about $4.40 currently. Those shells cost around $8.00 at your local WalMart. I actually like my 1140 fps 1 ounce "low recoil" load better than anything that is on the market, because there is no such load on the market.
I decided to start loading metallic because I was tired of an inconsistent supply of ammo in my area, even before the "panic." Plus my son bought a new 9mm and I am now loading for two instead of just myself.
I bought the RCBS Supreme master kit from Midway for $319, with it I get 500 free rebate Speer bullets coming from RCBS. I already have a Dillon scale so I sold the 505 scale from the kit for $75 dollars on ebay. I have Red Dot, Titegroup, Green Dot, and 700X on hand. I bought some brass on Gunbroker at decent price to compliment what I had. My 9mm bullets were a gunshow bargain I could not pass up from 5 years ago. Traded a fellow some 209 primers for small pistol. So all in all I do not have much in my start up.
If I decide I hate loading metallic (so far it is enjoyable) everything I have will sell nicely and get me back to almost even.