I think casting can differ quite a bit depending on what/how you're shooting. So, while there may be great benefits measuring, fitting and fussing with bullet-to-gun details, it may be far more important for the benchrest rifle guy than for the IDPA handgun shooter. Very accurate shooting can be done in 40 and 45 cal handgun without measuring or fitting a thing. I cast 'em, size 'em and shoot 'em, and have been able to work up loads that are as accurate as I have gotten using Hornady XTP, Nosler and Montana Gold bullets. I also find folks make a big fuss over lead alloys and get all worked up over what works and what doesn't. I cast what I get from eBay, have no idea what it is, and have run into problems, such as with zinc in the pot. These 'problems' can be dealt with...one doesn't have to send the lead out to be analysed.
>>> What all will be needed to start casing.
I started with a 5 quart Dutch oven from Walmart, a cajun cooker (jet burner), a bottom pour ladle, a mold, an RCBS Lubri-sizer and sizing die.
>>> What is the start up cost for everything you need?
Dutch oven was $35, cajun cooker was $35, ladle was $18, mold was $35 and mold handles were $13.
Are the cast bullets just as good as the jacketed bullets you buy at the store?
They certainly are 'just as good' if you've learned how to manage your gear and materials, and you're shooting paper. For game, I defer to others. At about 1/10 the cost, 'just as good' doesn't matter that much to me because I couldn't afford to shoot at all if I had to buy bullets.
>>> What effect does cast bullets have on the firearm?
From nearly none at all to maybe a little extra cleaning with a bore brush.
>>> What are mistakes normally made when starting out casting?
Not buying and using a thermometer--quite possibly the single most important accessory besides the mold. This was the single biggest mistake I made, given I don't use a temperature-controlled furnace. After spending $35 for a probe thermometer, about 90% of all casting troubles went away. This may not be so important if using a furnace with controller.
Becoming impatient during a casting session and failing to develop a casting 'cadence'...based on observing the bullets that drop, the ease or difficulty of cutting the sprue, etc.
...and maybe not using enough care to keep the mold clean--especially when mistakes are made that leave the slightest splatter on mold faces. It all goes downhill fast after that.
The cajun cooker went away almost immediately, but it got me started. The jet burner type is hugely inefficient and I found a ring burner that uses 1/3 the fuel and makes 1/10 the noise.
The Dutch oven I still use, and because it holds well over 50-60 lbs of lead, this setup helps reduce the negative impact of getting a bad batch of lead. I have 1,500 lbs of lead in the garage, and before a session I mix up a selection of my garbage lead from a variety of sources to reduce the chances of have a 20 lb pot of high-zinc content lead. It works for me.