On my Myford I use a rear mounted tool post with the parting off tool mounted up side down (chuck running in the usual direction). As long as a cut is being taken in a positive manner (without dithering) there are no problems. I did use the power cross feed, again without any problems, but ceased after being told on this forum that it was a real NO-NO. I note that Jason uses power cross feed.
I have a rear tool post on my Cowell whose chuck screws onto the headstock shaft. However, as yet, I have only used the normal toolpost for parting off.
Geo. H. Thomas used forced diagrams to explain why a rear tool post worked. They made absolutely no sense. I note the comments about the possiblity of lifting the carriage etc but I think the drop out of swarf from the kerf (thanks for the new word) is very important especially after looking at how quickly it filled up with bronze chippings with the Cowell.
I find parting off to a hole very much easier than to solid. Also I always try to use a rod up any such bore, from the tailstock, to catch the parted off item. I once had a largish item fall between the bed and four jaw chuck. Fortunately nothing was hurt.
So, for me, use rear tool post on Cowell and power cross feed on Myford.
JA