Carbide. Insert tooling if you can. If you're using a cutoff (aka "parting") tool, pay attention to speeds (slow) and feed (not jerky at all) and use cutting fluid liberally. Make sure the tool height is at or very slightly below centerline of the work. Parting tools are persnickety on a manual lathe, and love to catch and snap, destroying the tool and your workpiece in the process. Remember, the closer the tool gets to the center of the part, the slower the surface speed gets to zero, so dial your feed speed down accordingly as you approach center. I hate cutoff tools, but sometimes you have no choice . . .
Alex