I have worked in production shops on lathes up to 48" swing where big beefy carbide is the rule. Now that I am retired and running my own lathe (12x36) I have re-discovered the joys of a good HSS parting tool. I am not talking about the crappy Chinese flat blades. I grind my own out of 1/2" VASCO or Rex AAA, which ever I have on hand at the time. Somewhere I have a few pieces of Red Cut Cobalt stashed away for a rainy day. ;D I make the tools on my surface grinder and give them a slight hollow grind below the cutting surface for clearance. The tops of the tools get a shallow groove that runs the length of the tool with a Dremel and a cut-off wheel. The groove causes chips to fold inward and crumble, making for great chip clearance. Parting is the number one job I do on the lathe, up to 100 cuts a day in 9/16" 4140. I can run all day, cutting under power, without touching up the tool. Why pay for expensive carbide inserts when a $15 piece of HSS will allow me to grind literally thousands of cutting edges?