Hi. Steve.
Are you still playing about with that V8 of yours? EN16T should machine reasonably well using standard tooling and machineary, I always understood the "T" to stand for tempered ie in its soft state. If you have problems check with the supplier, as they may have supplied you with a bar end, so you may have something like EN24T which is a different kettle of fish. I ordered a 6'' billet of EN1A a while back, but the swarf came away like chewing gum, it wasn't until I supplied photos of it being turned that the supplier put his hand up and replaced it with the right grade, so its worth getting back to the stock holder and making a bit of a fuss.
Cheers. Mick