I'm a recent convert to inserted carbide parting tools, having used HSS blade types for many years. I've got a 30 year old UK built 11x24" lathe, which is pretty rigid anyway, but inserted carbide is a revelation for parting off. It will happily part off 2" dia EN1A steel at 200 rpm. I don't use power feed for it, nothing against it, its just that I'm probably still a bit twitchy after all those HSS years, and like the ability to 'instantly' wind back out if something goes wrong. I don't use flood coolant either, even tho the lathe is fitted for it, too messy really. I just use a spray container (intended for watering house plants) filled with coolant diluted at 5-1, rather than the recommended 20-1. Its recommended that if the tip chips (they don't last for ever), you throw it away and put a new one in. Being mean, I've found that I can resharpen them on a green grit wheel. I can touch one up about 4 times before the edge of the insert is level with the face of the holder.
'It may not always be the best policy to do what is best technically, but those responsible for policy can never form a right judgement without knowledge of what is right technically' - 'Dutch' Kindelberger