Substantial cost savings can still be realized in reloading 9mm. My approximate cost breakdown per thousand is as follows:
Cactus Plains bulk cast bullets: $80
Primers: $35
Powder: $15
Total: $130 plus GST
Given that 9mm factory ammo is now selling for over $300/1000 and even Wolf reloads are going for $270/1000 plus shipping, I think this is pretty substantial.
In comparison, approximate .45 ACP costs are as follows:
Cactus Plains bulk cast bullets: $90
Primers: $35
Powder: $20
Total: $145 plus GST
The relative savings are even greater, considering that factory ammo runs over $500/1000 and Wolf reloads run $310/1000 plus shipping.
It must also be noted that remanufactured ammo is sometimes in short supply.
In either case, I have assumed fully amortized brass costs and that losses are made up via range pickups. If you want to include brass costs, let's assume 10 firings per case, which would work out to about $5/1000 for 9mm and $10/1000 for .45.
As for the time component, reloading is not excessively time consuming if you use a progressive press. I can crank out 100 rounds in 10-12 minutes with my Dillon RL550B. Allowing $800 for equipment, it will pay for itself after about 1650 rounds of .45 ACP or about 4400 rounds of 9mm in comparing component costs versus factory ammo.