I did the math and it comes out to about $0.30 - $0.35 per cartridge, which is a whole lot better than the per round price I am finding locally. I might be able to match or better that price if I buy online, depending on the cost of shipping. Of course, I didn't factor in the cost of the press itself nor the time I would have to dedicate to the reloading process (which would be way more than the time spent sourcing ammo online, unless I was looking for a particular load that proved to be hard to find online).

From the advice I have received, I think I will focus my search on a MEC, probably the 600 Jr. However, I think I will keep searching until I can find a complete press cheap, not at the current ebay prices of $100+. I am in no hurry to find one so, in the meantime, I think I'll order a bunch of 16-gauge shells online.