Dare I suggest that replaceable tip tools are not really suitable for a ML7. They are really meant to be used at high speed with rigid machines.
My vote would go for HSS, 6mm or 1/4 inch being about the biggest that you can fit without going above centre height.
Plus, tipped tools are less forgiving than HSS, they chip easily on interrupted cuts, and that can be expensive. A £4 piece of HSS will give a lot more than a tip for the same cost in that way. (Don't think about parting tool tips at nearly a tenner each if you have a dig in!)
Howard
PS I use both depending on what I am doing.
Edited By Howard Lewis on 18/07/2018 21:04:43