Yes and yes to both.
Not at full power jacketed velocities with good accuracy, but you will do very well at lower velocities approximating a 30-30 or even somewhat lower speeds down to that of a .22 long rifle.
You really can't substitute it with a bullet for a full jacketed powder charge, if that's what you're contemplating, without some loss of accuracy as compared to the jacketed bullet, but if lower speeds with very good accuracy is your thing then the cast bullet is very suitable. The newbie can't simply cap a 170 grain lead bullet over his full power 180 grain jacketed charge and expect jacketed bullet accuracy, as you won't get it.
There's a bit more to it than that, but with some knowledge, and cast bullet use instills plenty of that! you'll do well.