Ah, tool posts.... one of my favorite topics. And one sure to get a lot of responses from folks around this part of the interwebz... 
Before I finally bit the bullet and ordered up an AXA clone and bunch of holders I was very close to doing own thing based on the sketches shown.
I'm not a fan of the actual four way posts because after some years of using but not really liking them I find that the tools often foul the adjacent positions rending them at best a three way post and often as not limiting them to a two way post instead. Plus as tools come and go there's the need for stacks of shims to deal with each tool so the cutting edge is dead on the center height.
So my thoughts for keeping it simple but at the same time make for easier switching between tools was to make up multiple two position tool blocks that could be made fairly easily. This started out with the boring bar and knurling tool blocks shown in pictures below. And it even got to making up one block to try out an option for a multi angled cutter which could be sharpened from the ends right to where there would be just a little nubbin left. That's also shown below.
As well as the basic tool holders I'd planned on making a block with one side that held parting blades correctly. Just need to play with some options for figuring out how to make the slightly angled cuts to allow for tapered parting tool blades.... If you like this idea we can discuss it and work it out together. Of course if you have a milling machine then it makes it pretty simple.
In use the blocks are easily and rapidly swapped by simply spinning off the cap nut, switch blocks and spin the cap nut back down. The extended cap nut is both to make it easy to thread on rapidly and also to lift the box end wrench up away from the clamping set screws. I prefer a cut down box end wrench for the tool post because I can position it in any of twelve angles as I alter the angle of the compound and thus where the wrench would be if it was a dedicated fixed rod. But of course we now need some way to make the hex. But if you're patient it can be done using a file. Or perhaps a good size nut could be welded to some stock then turn the rest to finish size.
In the end I decided to just get on with other things and about two years ago bought one of the imported AXA clones just because the cost had come down or I had just gotten impatient. And I do like it. But I think that a few of these tool holder blocks could have been a fairly decent option. And best of all you could make them directly in the lathe if you don't have a milling machine.


Before I finally bit the bullet and ordered up an AXA clone and bunch of holders I was very close to doing own thing based on the sketches shown.
I'm not a fan of the actual four way posts because after some years of using but not really liking them I find that the tools often foul the adjacent positions rending them at best a three way post and often as not limiting them to a two way post instead. Plus as tools come and go there's the need for stacks of shims to deal with each tool so the cutting edge is dead on the center height.
So my thoughts for keeping it simple but at the same time make for easier switching between tools was to make up multiple two position tool blocks that could be made fairly easily. This started out with the boring bar and knurling tool blocks shown in pictures below. And it even got to making up one block to try out an option for a multi angled cutter which could be sharpened from the ends right to where there would be just a little nubbin left. That's also shown below.
As well as the basic tool holders I'd planned on making a block with one side that held parting blades correctly. Just need to play with some options for figuring out how to make the slightly angled cuts to allow for tapered parting tool blades.... If you like this idea we can discuss it and work it out together. Of course if you have a milling machine then it makes it pretty simple.
In use the blocks are easily and rapidly swapped by simply spinning off the cap nut, switch blocks and spin the cap nut back down. The extended cap nut is both to make it easy to thread on rapidly and also to lift the box end wrench up away from the clamping set screws. I prefer a cut down box end wrench for the tool post because I can position it in any of twelve angles as I alter the angle of the compound and thus where the wrench would be if it was a dedicated fixed rod. But of course we now need some way to make the hex. But if you're patient it can be done using a file. Or perhaps a good size nut could be welded to some stock then turn the rest to finish size.
In the end I decided to just get on with other things and about two years ago bought one of the imported AXA clones just because the cost had come down or I had just gotten impatient. And I do like it. But I think that a few of these tool holder blocks could have been a fairly decent option. And best of all you could make them directly in the lathe if you don't have a milling machine.
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