These days I tend to use inserts because they give very nice threads compared with hand ground HSS bits. I like to use full form inserts, especially with Whitworth, BA and ACME threads, because the complete thread-form is a significant part of those standards. I use full form metric inserts where I’ve got them because it makes the calculations simpler and the bolts stronger.
I have got some generic 55° and 60° inserts, but I only use them in desperation because I have known threads to fail with low cycle fatigue due to having a sharp root radius.
Usually, with inserts, the thread angle/helix of typical threads is handled with acceptable accuracy (i.e. you ain’t going to measure the form errors) with a flat anvil in the tool holder and the clearance inherent in the inserts and their relation to the work (a smaller diameter leads to more clearance than a larger one, which mitigates the clearance problems of the larger angle that comes with a smaller diameter for that pitch) .
If you can get them, different anvils can be very useful when cutting coarse left hand threads, especially ACME or other coarse threads. If you need them and you can’t get (or can’t afford 🙂 ) special anvils, then it’s just as easy to tip over the tool holder with a tapered shim made on the mill, shaper or what ever you have. I’ve used that when making replacement LH ACME feedscrews for a BCA jig borer. Helps to use a set of punches, or similar, to mark them up so you can remember what they’re for next time…
Edit to add:-
If you can set the top slide over to a bit more than the flank angle of the thread (e.g a bit more than 60° from parallel or less than 30° from radial) and adjust the tool back to ‘straight in’ and feed in with the topslide, then the tool will mostly be cutting on the leading edge and only taking a skim cut on the trailing edge. This makes the chip much more flexible and drastically reduces the number of chipped tools.
If you do that, the depth you need on the topslide is (the thread depth)/(sine of the angle you’ve turned the topslide). That gives you a guide until you start offering the nut up to the thread to see if it’ll actually fit. Calculators may be used in this exam 😀 .
It should also be noted that the internal threading inserts which are generally available are of limited use producing standard threads. They need larger bore sizes than the threads that match their pitch. One can get some toolholders and inserts that’ll make standard internal threads, but double checking is vital to ensure that tool and insert will fit the inside diameter needed. For standard threads, I tend to use taps and only single point larger diameters.
Sorry for waffling, but hope there’s some valid information in the ramble…