I used brass for the replacement half nut on my M-type some years ago. I'm sure it will outlast me.
Original half nuts on Myfords and other lathes including I think South Bend and Craftstman are made from Mazak, an alloy of aluminium, zinc etc and very soft, much softer than brass. I think the aim is to have the halfnuts wear out without wearing the precious leadscrew. A lathe with a worn leadscrew will never screwcut accurately, but one with worn halfnuts will. The halfnuts are meant to be a consumable, like brake pads and clutch plates. Easier and cheaper to replace than leadscrews.
And of course there is bronze and there is bronze. Phosphor bronze, if you read the specs, is recommended for use with hardened steel shafts, so I would hesitate to run it on a non-hardened leadscrew. Leaded bronze, sometimes called gunmetal, is more suitable for use against non-hardened steel.
Cast iron, as suggested in a recent post, would be good too. Cast iron and steel are a good and commonly used combination in bearing/shaft situations and the cast iron contains enough carbon to be "self-lubricating" to some extent and yet is quite hard so resistant to swarf embedding.