Another of my hobby horses!
Check that the bed is not twisted. If the bed is twisted, the lathe will cut tapered, rather than parallell.
Various books will tell you how to check, and correct.
L H Sparey's "The Amateur's Lathe" will be an invaluable help on many aspects. It is very much written around the ML7, although some of the drive suggestions seem dated. Chapter 6 deals with lathe tools and grinding them.
"The Myford Series 7 Manual" by Ian Bradley tells how to check if the bed is twisted and how to correct it, on pages 42 and 43. Tool angles are covered on page 52.
Ian Bradley's "The Amateur's Workshop" covers things other than lathes, but Chapter 9 is devoted to lathe tools.
Pages 27 and 28, again, cover levelling the lathe.
Another good reference book on many aspects of Model Engineering is Tubal Cain's "Model Engineer's Handbook". Again, it contains details of the angles at which to grind tools, in addition to a HUGE range of information that will be useful in the future.(Screw thread dimensions for instance )
The money, and time, spent in buying and studying these books will be invaluable.
Howard