Did you ever use 12L14? Free machining steel. You won't believe you're turning steel. Chips break up. Takes less power to machine it. And you can turn higher RPM. Mini lathe guys will love it! Also gives a super nice finish. In my home shop I always use HSS tool bits. I've been grinding my own over 45 years. One bit lasts like 10 years. Carbide will be ok if you must. No polishing required. I'd rather see the smooth turned finish. LOL! If you can't get a great finish with it maybe you're better off using your lathe for an anchor! Screw machines often use it. You won't find an easier steel to single point threads. ? ?
See the tailstock feed screw I made with some? Acme threads. Only .002 backlash. I ran the lathe in reverse to cut the left hand thread with the bit on the back side. Did the chuck thread off? Nope. Also another screw I made. I make a whole lot of them. Notice I use a lantern tool post. Did somebody tell you they aren’t any good? BS. Pure BS
Not enough carbon content to harden but I have successfully case hardened it with casenit.
Get some if you have never turned it. Get several diameters because you are going to love the stuff. ?
Yes, free machining stock and aluminum will take care of 90% of everyone's needs. I do my own gunsmithing.
Here's link to a teeny bit of my projects. I have a Palmgren milling attachment.
https://pbase.com/packrat/image/142787606
Here's one-half of a set of scope rings that I made. Believe me, the devil is in the details. Never again. Also, shown is an adapter to mount a scope on an IZH 46M target air pistol.