Lower horsepower lathes do sometimes have difficulty taking advantage of insert tooling. Ironically my lathe generally requires high speed steel for low speed operations. Go figure. And since you asked I would like to submit the 4x6 horizontal/vertical band saw as my recommendation for first machine shop machine tool acquisition. With careful saving required roughly two years separate each machine tool added to the shop. First came the lathe, second came the mill, and third came the bandsaw. I say with absolute certainty that the saw should have come first. The ease it added to breaking down steel stock translates to an exponentially higher enthusiasm for starting a project. Also put it on a hydraulic lift table so you can store it under your bench. It’s a tremendous boon.

@leeceeworkshop

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Yea. I should have mentioned I do have quite a powerful hobby lathe. So never had issues with insert tools. You’re suggestion of the saw for stock prep is a great one! There’s nothing more demoralising than trying to manually saw through a few inches of steel.