I made a slightly similar arrangement for my EW lathe, which has just a simple tool clamp. The bits are typically ground from 1/4" broken drill-bits, FC3 cutters etc.
The holders are just short pieces of 3/4" X 1/2" b.m.s. bar with drilled (not reamed) holes at each end at angles to give some height adjustment. The bits are simply gripped by grub-screws.
Not quite Dickson finesse but better than fiddly shims under individual tools: if not quick-change then the semi-fast service!
I have an old (Warco?) 4-point face-mill having carbide tips brazed to the body. I've wondered how feasible it would be to remove the worn-out tips (somehow) and convert it to renewable insert form, either carbide or with HSS bits rather as Malc has made. Only it's MT3 and my mill now has an R8 spindle…