A comment was mentioned that the .38's are cheaper to reload than .45LC; and that's true if you have to buy your bullets. But, if you cast your own the price gets real close real quick. All this assuming you have your cases (and at CAS speeds and pressuresses they do last for a long, long time.)
Cost of primers is a wash, about 2 cents each. The powder differential for me is: .38's just under a cent a round. The .45LC is right at 1.5 cents. This translates to a difference of $6 per thousand.
Now casting costs me almost nothing--OK I do have to pay for the electricity and the .45LC probably uses a bit more lube, but since I get my WW for free--they are actually happy for someone to come and take them off--I figure the bullets are a minor cost for the entire operation.
I enjoy the casting process and it gets the cost per round down to, for .38's about 3 1/2 cents each and the .45LC's come in at about 4 cents; I'd call that just about a dead heat.
Walt
p.s. and you get to buy a bunch of new stuff--we'll look at that in a later post