Having owned a lathe for about 40 years, I soon graduated from the Myford clamp arrangement, to a four way toolpost, and then made a rear one for the ML7. On the larger successor, stayed with the four way supplied, and then made a four way rear toolpost.
This allows me to have six tools available. Normally, Carbide rougher, Carbide boring bar, Tangential turning tool, in the front post; Front Chamfer, Parting Tool, Back Chamfer, in the rear post.
The rear post was made specifically to take the rather large Parting Tool that I had been given when I bought the ML7. The blade still has a lot of life left in it!.
If any other tool, (usually knurling, or radius turning ) one of the "normal" tools has to come out, temporarily, most often the Boring Bar..
But I have no need to save a few seconds, on each operation, since piece work is not part of my pension.
QCTP came about to save time in industry where time is money.
They have the advantage of keeping a tool, once set, at centre height
From what I read, it seems that a lot of QCTP s require some modification to either the QCTP or to the Cross Slide to enable their fitment.
Although I could afford them, I lack the space to store about ten holders, and survived for a LONG time, quite happily with my set up.
But each to their own. If that's what you want, go ahead and buy one, but make sure that it will fit, or can adapted easily be modified to fit to your lathe..
Your lathe already has a four way post, so, as beginner, there must be more important things to learn to use than another toolpost..
Beware of having all the gear, but no idea of how to use it! I have fallen into the trap, thankfully not often, of buying something because it seemed a good idea at the time. (Tailstock capstan, and Tilting Table fall into that category! )
NOTE. Shims to adjust tool height can be made by cutting up tins, such as Sardine or Biscuit tins. They are usually 0.010" thick material. )
Howard
Edited By Howard Lewis on 26/08/2022 11:27:45