Right now I am using some Chinese insert. Bought it from Taobao, costs about 10RMB. It works well if you use the speed and feed it recommends, and on the right material too (it tells you what material it's for, for example any steel under 40HRc, or aluminum (it looks shiny)). I'm also using some cheap Chinese insert tooling too. If I buy it from a tooling store in Taiwan I will expect to pay about 5 times the price, and chances are it will be the same Chinese crap.
When I was in the states I had a box of Mitsubishi inserts that worked very well if you went within their recommendation. At the time I had Precision Matthews PM1228 lathe in a third floor apartment. I think the victor lathe has far more power than that.
For my first project I made a sanding attachment for my milling machine. Previously I used a 1"-8 UNC threaded rod, but the threaded rod had severe limitations. I had used my milling machine to reduce the diameter so it can be chucked, and I needed a support at the bottom so it does not flop around. I ended up using a piece of 4140, and turned a 16mm shank so it can go into a drill chuck, and a 20mm smooth shank at the bottom that goes into a hole in a wood block to act as tail support. I then inserted this into 4" rubber discs that can hold a sanding sleeve, and it allows me to thickness sand guitar wood. I would use the mill's saddle as a guide to adjust thickness.
I had to make this thing twice because I had trouble with threading tooling breaking on me... I ended up grinding my own HSS tool for this and it worked well.
Too bad I can't do gunsmithing, I would love to but it's also kinda illegal in Taiwan.
This is the insert I got, says it's for stainless steel.
