A lot of my turning training was carried out on a Boxford and a plain lathe, the Boxford had a 4 way toolpost ,and work was usualy between 0ne and 200 components in brass rod and castings ,aluminium castings ,nickel silver and some steel,lathe tools were eclipse 3/8 square ,so everyone aquired a tobaco tin of brass shim of varing thick ness,and a tin of tolbits which I still have 60 plus years later.On brass and nickel with no top rake,a tool could be reground without the need to change the shim,tools needing top rake needed a thicker shim after re grinding,though if a tool was used for facing and did not need to right across to leave a pip, ie work with a centre hole,then a very slight drop in the tool did not really require a re shim.The ability to have up to four tools in use was time saving on larger batches ,though a pain in the backside to keep adjusting shims when doing one offs, i never forgot this and when I bought my Myford for home,I did not buy a four way toolpost, I had seen in the ME a Drummond type adjustable adjustable toolholder which was mounted on a short round steel post on the top slide ,I made two of these and and did all my turning for years with them and cost me nothing to make and they are a bit more rigid than a Dickson type holder. though do not have any repeatability regarding rotation.When I bought my first Colchester I it had a genuine Dickson tool post, I then added Col triumph 2000 to my workshop and promptly removed the four way toolpost and put on a spare Dickson that I aquired, I am now down to the Myford and a col master 2500, with a Dicksone and 17 toolholders and would not be without it,and since I found how useful the Dickson type toolholder is ,I bought bought a quickchange toolholder for the Myford and again that only gets removed if I have to cut tapered pipe threads and the shanks are too large for the myford Dickson holder, I dont have a taper turner on the colchester. I had for some time a Smart and Brown plain lathe and I tried the the Myford Dicksom toolpost on it ,it made turning a lot easier,as the S&B only had the simple tool clamp,though for any numbers I had the capstan turret and cut off slide,which was really rigid ideal for parting and form tools. when I started work most run of the mill lathes only had bed stops, some with a multi position stop there were no dros,so every one learnt to turn with rule ,micrometers and proper calipers with a vernier scale and we all managed ok.I did get a chance when I long left the shop floor to use a DRO on a near new Colchester student,it was ok probably saved time ,but was not impressed,it was not accurate enough for accurately turning bores to within tenths for ball bearings. An awful lot of lathe work can be carried out with a basic lathe and a set of centres,faceplate catchplate,3 & 4 jaw chucks ,fixed and travelling steadies ,tailstock chuck,cutting tools then after that i would go for a Dickson toolholder plus a range of measuring tools and good set of twist drills, after that its a case of how much spare cash there is available. And buy a lathe with a decent sized bore up the spindle, Myfords biggest fault.