I'm more familiar with fly tying than reloading, but I think the pro's and cons are pretty much the same. I don't lose enough flies to really have tying make financial sense, what with the cost of a good vise, materials, my time, etc. But there is an enjoyment factor (for some) in doing it, and personal satisfaction in producing something that works. I would imagine it's the same for those that reload who are not really high volume shooters.
Sorta like my per pound cost of hunted game being much higher than going to the store.