As has become usual on this forum, the answers to the OP's question (with the best of intentions) have become a bit like the the question "What's the best way to get to Limerick?" Answer: "I wouldn't start from here sir!"
My experience with the sort of tooling described is that they are not that hard and can be cut with replaceable tip TC tools. I haven't tried threading such materials but I would have thought that if the turning to size is successful then threading with a TC tip tool would be worth a go – HSS would probably be a struggle and you would break the tip off. TC tips have better geometry than home made HSS tools. For turning I'd use the slowest direct speed on the Myford and a reasonable feed – don't try and take fine cuts. For threading I'd put it into back gear but I'd want a good runout for the threading tool. I think one of the secrets to success is being fairly bold. Experiment and tell us your results!
But, as others have said, I wouldn't start from here – but perhaps I'm too timid
HTH,
Rod