On a couple of points raised…
1) The standard designations look alarming with all those letters and numbers, but are fairly easy to find and to follow, and it may be worth keeping a copy with other references, like tapping-size tables.
I don't know our regular suppliers' criteria when selecting inserts to sell to us, for our use in conditions far more variable than in industry, including our using manually-operated machines not always in the first flush of youth (the machine-tools, not us!).
However, most carbide tips are really for production machines with very rigid structures and automatic feeds, clearing metal at very impressive rates and capable of very high surface finishes. In this area, their manufacturers' catalogues, intended for the precision-engineering trade, quote insert or insert-facet lives of typically 20 minutes at the tip's intended material, speed and feed! (I believe insert life and price is accounted for in costing the work and preparing quotes.)
2) Showers of swarf… make some form of guard or screen easily placed and removed, to keep the swarf where it belongs.