The nine inch south bend is a very popular lathe these days among hobbists. It is a slow turner and therefore hss tools are appropriate. Grinding single point tools is not that difficult. Rough with a hand held grinder, finnish on belt sander or bench grinder, hone on hand stone. If you have a lathe, and don't know how to grind tools buy a book about lathes or general machine shop practice. The clearence angles can be set using the table angle adjustment one the bench grinder or belt sander. I personaly use all three style tool holders shown, depending on the nature of the job.
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