Russell
Yes I have one of those types of parting tools and there not to bad but hey will still jam on steel but that tool I told you about was absolutely unbelievable because if it jammed and it can it does move away from the cut. If you have a look at my album you will see the one I made but I still have to make the spring steel blade.
I think the beauty of that design is it can only move away. The blade made from spring steel would make it better and I think I will have to remove some of the bottom support to make the tool bend better.
In regards to what Andy is saying that method is used in turret lathes and Automatic lathes with good results but think about a jam the piece of steel being parted can still bend into the tool putting max power in a reverse direction to how the compound slide is supposed to operate. I mean the dovetail.
Getting back to actually parting I think water cooling is important because when steel get hot it expands and will reduce the width of the metal where you have cut and jam the blade. Now I have used sulfur oils and got better results.
I must ask my mate with the auto lathes because they part of every component after the process is complete.
That tool I used and I am telling you about was unbelievable and I wish I knew where I can get one.
Larry