If you're looking to save money and have lots of time, then go for it.
There is a lot of prep work to be done before you will turn out your first good bullet.
There is another issue with using spent .22rf cases, accuracy. The cases aren't noted for having consistent wall thickness and have that annoying firing pin indent on the base, neither of which is conducive to accuracy.
There have been many fellows trying to utilise the spent .22rf cases on a commercial basis. The first one coming to mind is James Calhoon, who now resides in the US and has been promoting .19 and .20 calibre bores. JCs' offerings even went so far to be electroplated with a harder metal in an effort to try to stop fouling at higher velocities. Calhoon was also among the first in Canada to offer heavier bullets in .223. Good bullets, to many fliers.
If you are going to build bench rest quality bullets, the only way to make some decent money, you will have to buy J4 jackets. It's relatively easy to keep lead weight constant as there is good availability of soft lead wire, which will cut easily and form nicely into the cups.
Another good acquisition to think about if you're really serious about swaging your own is a "Juenke Gauge". All of the prominent bullet makers today use these gauges. They measure jacket thickness consistency. It's one of the main reasons why bullets are so good today.
I quit making my own a long time ago. To much drudge work, after the novelty wears off.
The bullets being offered today are so good it's almost impossible to beat them. They are also cheap when you buy them a couple of thousand at a time.
If you're working on your anarchist skills (wink) go for it. Good learning experience. It's easier and just as cheap to buy excellent factory made bullets and wrap them carefully for long term storage. Takes up a lot less room as well.
bearhunter