I am loading .22 Hornet right now on my 550 and also use it for .17 Ackley Hornet and .218 Mashburn bee. It works great as you can control all aspects of the loading as you manually advance it. With these smaller calibers I also run it using my RCBS chargemaster to dispense powder pausing on the upstroke. The real small stuff (.17 AH) is very sensitive to slight powder changes so I still use the Chargemaster.
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