I was in the same boat when I bought my Supermatch this past spring. The ammo cost was killing me!
So I took the plunge and bought the RCBS Rockchucker kit, got a few lessons from a club member, and went into the handloading business!
My costs have worked out like this:
Sierra 168 gr HPBT Match Bullets: $87/500 = $0.174 each round
IMR 4895 powder: $17/150 rounds per pound = $0.113 each round
CCI #34 primers: $21/1000 = $0.021 each round
Now, technically you should add the cost of the brass, but if you have a bunch of it waiting to be reloaded, it's a sunk cost. Also, many times you can scrounge up good match ammo brass at the range if you check out who does and who doesn't reload.
Bottom line: about 31 cents a round, and the accuracy is equal to or better than the commercial match ammo.
Be aware that these are MY costs - I got some special deals. For example, one of the guys from my highpower league did a group buy and got a great price on the Sierra bullets. Any place else, and you're talking $99 plus tax.
The other thing not included in the equation here is the cost of your time. I've only been reloading for about 5 months, and I'm still not as speedy as I'd like to be. I figure on about 5 hours of my time to knock out the 13 or 14 steps necessary to create a match-worth of ammo (about 70 rounds - 56 plus a backup). But for a third of the cost of commercially-produced ammo, I'll spend the time.
Let me know if you need any more hints from a reloading newbie!
KK