Not sure who makes the Lightnings, but I do know that Uberti '66 and Henrys in .45 are noted for their oversized chambers. If you're only going to use them in the one rifle, you could just size enough of the neck to hold the bullet. If you plan on using the same rounds in different guns, you'll have to resize them.
The way I do it is to only neck size my .45Colt cases, for BP use in my "66, and then use .45 Schofield brass for my pistol loads. Added benefit is the fat cases reduce blowback in the rifle.
+1 on neck sizing (Size to at least 1/16" below where the base of the bullet will be.). However.....if the cases were previously fired with a minimal load and did not expand to fit closer to the chamber, the results, although better than full length resizing will not be as good as with cases that have expanded in the body.
For example, when I was testing factory .45 Colt cartridges for velocity and accuracy,
http://www.cascity.com/forumhall/index.php/topic,49740.0.htmlI found that in both factory 200 gr. loads tested the cases did not expand.
On the other hand, the 250 gr. cartridges did expand about .008".
Neck sizing those cases did cut down on the blow by.
The Redding die is a good compromise but a bit too pricey for me. The other option, if loading for several .45 Colt firearms, would be to neck size, then use the Lee Carbide factory crimp die to crimp. The Lee die has a carbide ring that sizes the body of the case to .480", which is .005" larger than the normal case diameter.
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