Like many, i have a collection of boring bars, for both chuck work and between centres. The between centres type shown in other contributors' has the cutter bar hole directly across the diameter. Most bars I've made have had their tool holes at an angle across the bar axis, largely to allow an outside micrometer to take a reading. Very much more convenient to adjust the cut than when the tool is projecting - even a small amount - on the other side. i don't see a need, either, to cut a square hole, but round as Mike Ginn suggests. The hole angle doesn't really matter, but a possible 'benefit' might be that the bar could be stiffer., especially with a smaller bar. If boring from the saddle, I very much prefer to lock the cross-slide in one position for the entire process and not use the lathe screws to adjust the cut.