Although Old in style the Hogger set does have it's uses and are not obsolete in far as being useful.
I'm not sure what the insert grades are but I have been able to cut hardened steels with those that other inserts have been immediately blunted by so the straight one gets used on heavily chilled castings and modifying tool holders.
The 45deg one is a handy chamfering tool.
The round one is good if you want to leave a large internal fillet for things like simulating castings
At the diameters Vic is looking at then the smaller inserts will allow 3 or maybe 4 inserts if you go to 25mm dia but you need to think how you are going to hold those with their plain shanks, the 20mm will go into a ER32 but you get overhang, the 20 and 25 won't go into an MT3 collet.
R8 or MT Body like ARC do is easier mounting and less overhang but it's only a 2 insert cutter so less insert engagement can make them noisy like teh Hoggers and feeds will be less than 3 or 4 insert so take slonger to get job done.
Ideal would be direct mounting with 3 or 4 small inserts
Big advantage of teh more modern inserts is better geometry than the "Flat" Hogger inserts and the availability of the inserts meant for non ferrous which work on all materials and reduce the load on hobby machines