I have been reloading for 1-1/2 years. Not long I admit, but in that time I have reloaded at least 10,000 rounds of .223 with great success. I may be able to offer a few good suggestions. I have a Dillon 550 and a challenger press. I bought a used Dillon ($175, yeah I stole it) first from a friend and a used Challenger for ($20) from the Reloaders Bench in Mt Juliet.
I agree with everyone that you need a progressive. My Challenger is relegated to resizing and “popping primers.” It, in my humble opinion, is too slow. Do you want spend your time making bullets or do you want to spend your time shooting them.
To save money, download “Reloaders Reference v9.3x74r” off the internet (Link: http://sourceforge.net/projects/reloadersrfrnce/) . It has the information from just about all the reloading manuals in it. Buying all the stuff is the most expensive time of reloading. As McAllyn said, you can download manuals, buy them later if you want.
The things you need (in my humble opinion):
Case prep:
A tumbler (Berrys model 400 is a great tumbler) $60
A sifter (to quickly separate the brass from the media) $10
Resizing lube $5
A stuck case remover (unsure if needed for pistol rounds, I have not done pistol yet) $15
A case trimmer with a 3 way cutter on it (I’m lazy. It cuts, deburrs, and chamfers all at once)
A Chamfer tool (unsure if needed for pistol rounds, I have not done pistol yet)’
Actual reloading:
A press (you get what you pay for)
Dies and shellholders of whatever you’re going to reload.
A kinetic bullet puller (for those mistakes McAllyn talked about) $20
A great scale (you’re going to be measuring itty bitty weights. A great scale is extremely important) $60
A caliper (I recommend Digital 6" Calipers) $25
And of course, Brass, bullets, powder, primers
As if you don’t already know this, reloading at the beginning is very expensive. But it gets cheap fast. The initial outlay of money will be recovered in time depending on how much you reload. To me, it was worth every penny. I literally shoot every weekend, where before I could only afford to shoot 3 or 4 times a year. As an added bonus, I find reloading relaxing.
John