Yes, they're lead bullets with molybdenum coating, which is like a hardened plastic or something. Basically makes the lead bullets not be as smokey, presumably safer (no direct lead exposure). Shooting, they are slightly smokier than jacketed, but much less than lead.
I buy Bear Creek 147gr 9mm for $37 per 500 which is $74 per 1000. I shoot 1000-2000 a month, that $30 per 1000 bullets saved is a free 1000 every 3000 I shoot. Hell yeah.
There are quite a few of the competition shooters around here that use them, mostly (like me) for financial reasons, but they shoot just fine.