Can you tell me the value of reloading verse [sic] just buying reloaded ammo. Is it just for consistency or is there a payback on equipment[?].
Buying reloaded ammo will almost certainly restrict your options more than factory ammo does. Unless you find a place that will load ammo to
your specs (as I believe NET will), you will get the LCD of ammo; cast lead bullets over an inexpensive, broad-spectrum powder (think Unique).
I second the recommendation that, if you plan to load for pistols, you get a progressive. I'd recommend the Hornady Lock-N-Load or Dillon 550 (which I have 2 of). Also reading the ABC's of Reloading and/or viewing the Dillon video.
You will have significant initial start-up costs ($700 sounds reasonable) and only you can determine what your time is worth. Time IS a cost and, if you don't have any, you won't be able to do the case prep, still less actually load the ammo. If time is an issue, consider getting spec-loaded ammo. It should be cheaper than factory, although nowhere near as cheap as "roll your own."
Note that, if you get quality equipment, you can always recover a fair portion of your investment should you decide reloading isn't for you.
However, unless you are well off, love subsidizing Wally World with the frequent purchases of bulk ammo, or want your local dealer to be your Best Friend Forever with your frequent orders of pallets of The Good Stuff, reloading will give you very accurate ammo at a significant savings.