You are correct, although I believe in most cases there's no need to size them at all.
I've used the .45 200 grain SWC and found it to be very accurate. The Lee moulds are also easy to get good bullets out of, as you can cool them down on a wet cloth if they start to look frosty.
This is a cheap way to get started casting since there's no need for a $100 lubrisizer, $13 H&I die, and $5 top punch, but having lube all over the bullet caused me to upgrade to a Lyman mould and lubrisizer.
The best way I've found to apply the lube is to put the bullets in a zip lock bag, add a "line" of lube near the top sides of the bag, close the bag (get some air in there) and then turn the bag over in your hands until all the bulets are lubed. The bag provides much more surface area for the lube than the plastic container Lee recommends, and it's easier to tell how much lube is needed.
The only thing I use liquid alox for anymore is my paper patched .303 Brit bullets.
I will note that while it's posible, these bullets do not work very well if you upgrade to a lubrisizer. You'd have to use a soft lube for best results.
[This message has been edited by Walking Point (edited 08-13-2001).]