If you do much work using multiple tools its definitely worth it. While
tool height (depending on your tool post) might not be perfect from use
to use, it will be "close enough" if you use proper height settable tool
holders. This alone will save you time over stacking shims. Of course
there is a basic time savings just from the inherent nature of quick
change tool holders on a quick change tool post.
One of the things I see often on the pro snobs machinists groups is guys
commenting on and maybe even sneering at the number tool holders
hobbyists and home shop machinists have. The thing is I can pick up a
boring bar I haven't used in weeks, drop it on the machine, and its set
close enough for my one off job.
When I am doing things more production oriented (multiple parts the
same) I have all the tools I will need for that job ready to go. Except
to change speeds I can run from facing to parting and everything in
between without ever shutting off the spindle. I followed this up on
the tail stock as well. I have multiple screwless chucks, collet chucks
and tapered drill (some in adapter sleeves) so I can slide the tail
stock back, swap the tool, and slide it up again very fast. I do use
Jacobs style scroll chucks, but I use them like just another tool holder
with a tool mounted semi permanently or atleast for the course of that
job.
On the flip side if you just enjoy the machining, there is a great deal
of pleasure from making your own tool holders, adapters, bushings, as
needed. You can make "holders" for tools you might never be able to use
in a conventional 4 way tool post. The best part is even your not so
great holders will mostly still work. There is a great deal of
tolerance in turning tool setups.
Even back in the days when all I had was the little HF 7x10 I found a
quick change tool post handy from the first day I used it.
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