What about M42? In looking at the Tantung references I saw some folks saying that M42 is pretty good too.
So looking over my drawing and checking the body I found out that I didn't max out the angle I could get from the existing holder. So that got me to reset up the angle vise and indicate in the slot and re-cut the tool bit slot so it was deeper into the body at the tail of the holder. I was able to increase the slope by .07" which left .06 between the tool bit slot and the corner of the dovetail. This only made a 1.8° change but it's the 1.8° I needed to get the angle to let me grind the leading edge without grinding away a hunk of the holder as well.
So it looks like there's no need for the Mk II version since this one is now going to work out just fine.
The reason I didn't want too strong an angle as seen from the top is that the more that angle the less effective side rake we get.
Here's a picture of it taking a cut off a stainless flywheel I've had for ages with the intent to make a test indicator stand out of it. I'm turning a hollow on the bottom to leave a 3/16 rim around the edge which I'll lap to the surface plate. The Chinesium HSS lasted for a short bit more after this picture before it started cutting really rough. The stainless had just wore away the tip. So that's one sharpening cycle out of 200+...

I chucked up one of my cheap Chinesium carbide cutters to finish the job. The one I used just made it despite trying to take off just a fine ribbon the whole cut. I had to switch corners to do the rim and top side.
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