Further to Jasons points about stickout issues and the corresponding reduction in tool stiffness. Which can absolutely be a major problem when needing the best finish on bores or recessed components such as crankshafts.
When it comes to external turning with HSS tools running a second length of 6mm tool steel underneath the actual cutting tool nearly double the stiffness in vertical bending. Usefully better than the plain 6mm square. Sometimes the two parts effectively damp out chatter too. A plain bar support doesn’t work as well as a second piece of HSS. The high polish on HSS giving more contact area. Maybe consider gluing together with Loctite et al for a bit more stiffness.
Concerning boring tools by the time the necessary flats have been added to support the bar at the bottom, provide something for the holding down bolts to grip and move the bar inwards a bit to get the bolts on centre line 12 mm tool capacity translates to a bar approaching what could be called “ex 30 mm” size to borrow terminology from the timber suppliers. Much differ than simple projection from a 12 mm square shank.
However (engages stuck record mode!) its arguable that now insert tooling costs have dropped enough for “insert first” working to be financially viable the conventional QC toolpost is on its way to being obsolescent for home workshop folk. Being fixed height in the holders, with no variation due to sharpening to accommodate, insert systems do just fine in block style posts. Whether 1, 2 (my favourite), 3 or 4 slot breed. Insert parting blades are pretty much invariably in open sided holders with a block on the side for clamping which also do just fine in block type posts.
Traditionally HSS tooling used in block holders is shimmed to height after sharpening, something of a pain. Alternatively short bits can be carried in Armstrong / J&S et al holders at an up tilt angle for easy eating to height. But such holder which to be a bit cumbersome and burn up space on a small machine unless the never to be sufficiently cursed American lantern toolholder is used.
In principle there is no reason why square tooling should not be carried on an offset open sided toolholder with side block mount of the same stye as the insert parting blade holder. Obviously incorporating up tilt as on the Armstrong style for height adjustment. No great problem to incorporate side tilt as well so the two upper surface clearance angles are baked in to the holder making sharpening vastly simpler for ordinary folk.
All it needs is some form of quick release mechanism and accurate replacement indexing to be an effective, cheaper, substitute for conventional QC systems.
Clive