How far can I downsizw lead

No sir.........not even in two steps.........you would need a "swageing" press to reform lead up or down in those amounts.....big dollars......google "Corbin swageing press " if your interested......

hs4570.....your mileage may vary
 
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If the bullet is hard cast you can have trouble with .005" sizing, more than this is not recommended, .047" would tie up your equip. for awhile!
 
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