Personnaly,,,, it's not cost effective at all! (and I get my lead almost for free)
My "free lead" is mostly flashing from contractor friends (may cost me a beer or two).
Then I "clean it" 1-2 meltings at high temps. to try and remove any tin I can,,, Then 1-2 "blendings" (again high heat with lots of stirring).
All this is done on an old (wife says to dicard) webber kettle cooker with wood picked up for nothing around the yard and such. Cost so far $0.00/40+/- lbs. lead.
Now I start making Balls/bullets.
When I cast I get real "particular" and if I get 4-600 a day I've done good. Actual cost= $0.00
Time= 8-12 hrs cleaning, 6-8 blending, 6-8 casting.
When I'm done, what do I get?
Neighbors stop by and we share a few beers, a bunch of pride at the target range, a pile of pride on every kill during hunting season,,,, and "Braggin rights!"
Comepare that to "store bought",,,,,,,
20 minutes investment and $8.00 = more range time.
But, if it was all in cost effectiveness,, I'd suggest a 30-30 or a .243 or 12 ga slug gun,,, scoped.
Then you could shoot 1/2 box to sight it in, 1-2 shots per years before hunting season to check scope. You'd probably get 5 yrs. out of 2 $20.00 boxes of shells and a $300.00 gun.
$$$$ is not the measure you should look at. It's the pleasure you get out of making you own "necessities". Like "flint napping" you can buy them for $1.00 each or take 3 hrs. to make 4 truely good ones (and scrap a lot of material along the way).
It's not the "cost effectiveness" of your hobby,,, it's the amount of enjoyment you get from your degree of involvement that is satisfying. :m2c: