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Obviously it would vary by caliber, but the ratio of 1k of primers to 1lb of powder leans heavily toward the primers.
There are 7,000 gr in a lb of powder. Assuming a midrange caliber with a midrange load of 50gr, that is 140 rounds loaded. Mathematically that comes out to a ratio of 7lbs of powder to equate the same number of rounds as 1k primers. Assuming I did my math correctly. I do much better with sq ft and cubic yards.
My trade estimates are based off the likely current selling price of each item. For example if 1000 primers are likely to fetch $100 in our classifieds and a pound of powder is likely to fetch $35. Then I would consider 3 pounds of powder to 1 brick of primers an attractive trade.
 
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