You made a good choice Smith357. I tried to stay out of this melee, except for that one snide remark, because I know there will be a lot of opinion based on non-factual information. Faulkners post was excellent by the way. The M1 Carbine was not intended to replace the M1 Garand and it never will, and neither will the 5.56 or 7.62X39. However at ranges out to about 30 yards it is probably more lethal than the Garand due to its bullet design using fmj ammo, and it is still quite effective out to 100 yards. It is not a "rifle" as many seem to think, it is a "carbine" in the truest sense of the word, and one of the best ever made. I have firearms in a wide variety of calibers, .223, 7.62X39, .30 M1, .308, 30-06 and etc. Don't be fooled by ballistics alone, most of these are good calibers but each one also has limitations and there will be circumstances where each one will be much better than the others, the M1 Carbine is included in this and it is hard to beat at close ranges.
To answer your question about reloading, no...you will more than likely have problems with light loads. I have several Lyman manuals laying around and if your mould is one of theirs I can look up some data for you if you give me the mould number.