I've been reading about the benefits of a rear toolpost for parting off. I remembered I'd got a home made rear post with some stuff I got with the lathe:

With a bit of modification, I can use my Sandvik parting tool in it:

Should the upside-down tool be dead on centre height, or whould it be a bit above or below? I thought I'd read that one or the other was good.
The real issue is that it is this crappy single bolt for securing to the topslide:

When I tried to tighten it down, it just pulled the peened over bolt through the plate. Shame because the brass nut is the same size as the toolpost nut.
I suppose I could relpace the plate with a T-nut, but it would be very small compared with the size of the block. I guess it could really do with two bolts, but I don't fancy drilling through all that steel.
Any suggestions as to how to make this work? Thread another bit of plate and screw it into the bolt? Would that alone give enough force?
Thanks.