Good you got a result on the 1.5mm pitch. Good start.
Not sure how you will go cutting a thread with that tool bit. It looks like a general turning tool with too large a radius on teh tip for cutting a thread like a 1.5mm. But you can give it a try. Otherwise you might need to grind up a 60 degree HSS tool bit, or buy a specific threading tool bit.
Also, looks like you need to get the job in closer to the chuck, or use a tailstock centre to support the work.
The most reliable but most laborious way to keep the metric thread co-ordinated with your imperial leadscrew is going to be to never undo the halfnuts after the first cut. To move the carriage back to the starting position at the end of each cut, with the motor switched off, undo the back gear so the chuck can be easily turned by hand and rotate the chuck backwards until the tool reaches the starting point again. Re-engage back gear, set tool depth, start motor and take next cut. Repeat.
As far as using the thread indicator dial, try this method, but I make no guarantee so test it on a trial piece first.
Set the tool bit at the beginning of the cut or within a millimeter or so. Start the lathe and engage the halfnut when the threading dial reads 1. Make the cut. Disengage halfnuts at the end of the cut and stop lathe immediately. Wind the carriage back to the starting position and start the lathe up again. Engage half nuts immediately when dial reads 1 again. I have had this work sometimes over the years, and not others. I think it will work if the length of the thread being cut is less than the distance the carriage travels in one rotation of the threading dial, which varies from lathe to lathe depending on leadscrew pitch and number of teeth on the gear on the dial. But can be seen readily by winding the carriage along by the handwheel and measuring with a ruler how far it travels in one revolution of the threading dial.
Usually I use the first method described, because on my little Drummond it is easy to disengage the back gear and wind the lathe backwards via the leadscrew handle which then turns the spindle through the change gears. Thankfully I don't often turn metric threads so I just put up with the slowness of it.
I think Ady1 mentioned a method he uses by setting the tailstock as a back stop and putting the carriage back against it every time to locate it then engaging the halfnuts as a mark on the leadscrew gear comes to 12 o'clock.. But I think that is subject to the same rule of thread length also. Good chance for you to do some experimenting and see which works best for you.
Edited By Hopper on 30/04/2017 07:59:19