Hi Jon, Guys,
One comment that I will make to Dave's post is if you are going to go down the road of making a collet, putting a lip on both ends will prevent the collet from walking out of the jaws. Weldon put a flat on their cutters, so a small flat ground on the side with a securing grub screw will increase security of the cutter.
Now I did mention that I had made a dovetail slide some time ago, pre mill era, and said that if I could find it I would take some pictures of it. Well here it is:
It was intended as a practice piece, I learnt a lot from doing this... I'm glad I bought a mill
Today I wouldn't dream of using the lathe to mill.
This first picture shows the flycut surface. One of the first tries, at this time I think I was struggling to get the cutter ground properly. You will notice that the surface gets progressively better as I learnt.
That slot was cleaned up with a file and the insert done the same way. If I remember correctly, I used super glue to hold it in place while I drilled, countersunk and threaded the hole. 2BA I think.
This picture clearly shows the brass 2BA pinch screw and the 2BA leadscrew along with the brass nut and 1mm cross drilled pin.
A horrible close up, out of focus picture.
Here you can clearly see the surface of the dovetails.
These last two pictures show how sharp the edges ended up. The work piece was clamped to the cross slide using packings to lift things up to working hight and a small angle plate to make sure that each cut was at 90' to each other. The cutter was clamped using the four jaw to hold square tools with the end ground to get the 45' degree edge.
I would have taken pictures of the tools that I made, but I no longer have them, probably reground to do other jobs.
Anyway I hope that helps.