Facing to the centre is what damages most tooling cutting edges. So if it does not need a flat face, I drill out the very centre and put a dimple in the face, either with a ball end cutter or just a centre drill start.
Insert tooling is very convenient, and I find time saving. There is a new series of 1.5mm wide parting inserts that are well suited for lower powered lathes,and groove to 20mm deep Ø40mm
The reason I chose the TNMG is for the vast range of available inserts, for cutting plastics , Ali, etc all the way to any exotic material that can be cut. There are also Ceramic inserts , so turning of hard materials becomes a reality, instead of grinding.
I have found that cheap, and cheap holders, actually expensive inserts and holders. The initial price seems good but they often do not last very well or they have a poor geometry or poor insert pocket quality.
I have hss tooling as well, but very rarely use it now. I only make form tools from hss these days and then only if I have too.
Insert threading tools are really great, especially the full thread form inserts.
Neil