QC toolposts are all the rage now but, though I use one, I still find the venerable 4way style faster to use in many cases. I have a number of homemade 4ways, several of them dedicated to various jobs.
As an example, here's a general purpose one...
It has slots to take two conventional tools (typically a general purpose turning tool and a 45 deg chamfering tool) as well as holes that accommodate two sizes of boring bars.
On the other side is a cutoff tool permanently mounted to this 4way...
If you make your own tool post be sure to arrange things so the handle used to tighten the lockdown bolt points at a convenient angle out of your way - typically your 4 o'clock direction as you face the lathe.
The way I do it is to pin a chunk of hex to the lockdown bolt. A conical end is turned on this chunk. Then the bolt is assembled to the toolpost on the lathe and the bolt tightened with a wrench on the hex. Once a satisfactory tightness is reached, the 4 o'clock position on the cone is marked. Then the whole thing is disassembled and a hole drilled on the mark. The handle is then Loctited into this hole.
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