Did a little research on the components, and here is what I found out.
I found a few choices for bullets, and luckily there are plenty of 32 caliber jacketed rounds out there so I won't have to worry about the cylinder locking up on me.
Magtech 32 ACP (71 gr) is $11.99 per 100
Hornady XTP 32 S&W (85 gr) is $16.29 per 100
Starline 32-20 brass is $22.59 per 100
CCI #500 is about $30 per 1000
Red Dot powder is $16.99 per pound
I couldn't find much reloading data for the Nagant, but I read that a few people use 3.5 gr of Red Dot. Does that sound right?
I also ran this through a hand loading cost calculator, and depending on how many time I can reload the same brass, it will cost about $0.20-$0.40 per round to reload.