Many years ago, made a back toolpost for my ML7, and used the parting Tool inverted.
Sufficiently impressed that when I changed to a larger lathe, I made a four way indexing rear toolpost. This allows me to Front or Back Chamfer, as well as parting off. Being idle, and a bit of a hammer and chisel merchant, none of the tools have any top rake. All are used on whatever material is in the chuck at the time.
The parting blade came with the ML7, at least twenty years ago, (Been on the "new" lathe for fourteen years) and is still not worn out, (I fear the day when it is, for finding a replacement blade!).
Definitely +1 for a back toolpost, if only for parting off.
Howard