I'll casually suggest that any guy that thinks they can run out and buy a small lathe and hold 4 tenths of a thou, over several hundred bullets, using hand ground tools, is talking purely out of their arse. To suggest that some guy that has not ever run a lathe at all, should expect to be able to do so, doubly so.
No, not a machinist. I would need papers to call myself that. But I played one at work for about 8 years. And have been involved in it as a hobby for closer to 25 years. If not a little longer. OK, a bunch longer <sigh>. Lesse...Bought my first lathe in 1984 or 1985... wow....been a while.....
Yeah, a decently set up CNC Swiss machine, in a temperature controlled room and decent process control, along with constant monitoring and quality assurance checking, and you might be there. All for somewhere into the price of a pretty nice house, so you can machine bullets.
Makes dropping a couple thousand at a time on Swaging dies and presses look like a right bloody BARGAIN!
I'll stand by my previous suggestions. Check in at the Saubier Small caliber Forum, Accurate Shooters Forum and anywhere that the guys are talking bench rest or long range, and seek out suggestions for sources for swaging dies and jackets. Having the tools in hand isn't the same as being able to make them sing and dance to your tune, either. But it's a start.
The general gist of what I have read suggest that if all goes well and you can avoid any crap going in to them, a set of steel dies should be good for 100K bullets, and a set of carbide dies pretty much won't wear out in one lifetime.