Bill's description is how I have done it too.
One thing I do different is cut the long necks close with my dremel tool and a cut off wheel. Then deburr the inside, then trim on the power trimmer. Lastly a final dedur of the neck and flash hole.
Its not required, but I got my best cases loading a long bullet to touch the rifling with a lite charge of powder. Just for the first loads. Then regardless of your chamber, your brass is perfect. I found it necessary to do this every couple loadings. But that should not be necessary. I now feel that my loads where a bit hot. Not in pressures, but by design. I think the frame was moving/stretching and causing the problematic ignition I was experiencing. My newly fire formed cases worked perfectly for 2-3 firings then miss fires would begin again.
The shoulder isn't fully formed, but there is plenty there for first firing. After first firing you will have the actual 357 Herrett case. BECAREFUL reloading these. There is not much shoulder and moving it when resizing is a big problem for this caliber. Its the biggest reason I gave up on it. When setting up your dies, AFTER initial forming. Be sure you smoke the necks of the brass and set the die so as not to move the shoulders or miss fires will develop.
If you want some great reads about this caliber. Google Steve Herrett and Bob Milek the designers of this fine cartridge.
Good luck,
CW