No. You should buy five pounds.

I've got to be honest hometheaterman, I've never shot pellets out of any of my guns. So it would be fair to conclude I don't have a valid experience base for my opinion. But I have shot side-by-side on our hunting club range with lots of guys using pellets. As far as I was concerned, loading loose powder with pre-filled powder tubes like the ones sold by LaneNebraska beat the heck out of pellets for ease and convenience, and certainly for cost.