Sodium guidelines are about 300 mg minimum needed (not hard to get!) and max for a toddler is about 800-1000 mg per day (again not hard to get!!!!!!!!!!!)
DS has always eaten good quality cold cuts - roast ham, turkey, chicken, beef, etc from the deli from about 1year old. I have no issue with it and we always buy them plain roasted, low fat, good quality - he's not a meat fan so this is often the only way he will eat it, and he loves turkey this way.
BUT the past 6 months or so he's gotten into mortadella (which is more or less balogna/baloney) and it started because here everytime you are at the deli counter/butcher they ALWAYS offer a slice of meat to the kids. I think the first few times in my uptightness I almost fainted with horror at what he was eating (

) now I time the stop at the meat counter to fit in with when he is getting fussy so that he can get his slice and stop whingeing

Since then I have relaxed and he now eats it pretty much daily for or with his lunch

I have never worried about listeria though (PS to first time mummy, we are told to avoid them in pregnancy in the UK and Canada, due to the listeria factor and I'm sure other countries as well but I only know for certain the UK and Canada guidelines) my main concern with them is the fat, sodium, nitrates, lack of taste and general disgust of knowing how they are made and made of...that said I totally grew up on balogna and am still here! At the same time I am learning to pick my battles and my DS generally eats well (I mean, come on, the kid loves veggies!!) so I am not too too bothered about it!!