+1 for zero-to-zero, not quite as foolproof as a swing-up toolholder (I imagine, I've never used one), but close, and the angled feed helps on difficult materials.
Hand Cranking
I made a hand spindle crank for my mini-lathe because I had a some internal 1/2" NP threads to make in stainless steel a while back, and it seemed like a good idea. I have to say, it did not work well.
To avoid work-hardening the steel required a reasonably deep cut, but I found as the thread deepened, there was a tendency for the tool to dig in. Nothing immediately terrible happened of course, but I was then left with a burr in the thread which was extremely difficult/impossible to get rid of before threading could recommence.
After a while I gave up and completed the rest of the job under power with no problems. I guess that with such a small lathe, there is insufficient inertia to overcome a slight dig-in when turning slowly by hand. A more aggressive approach might help, but then I'd probably be concentrating so much on cranking, that the tool would collide with the end of the bored hole.