I must admit I've not actually used it very often, yet!
The 'Worden" type T&C grinder is for lathe tools, and for the end- but not flute- edges, of end-mills and slot-mills. Sharpening flutes needs a more sophisticated machine with tool-axis centres and helix-follower.
It holds the lathe tools in a simple block with channels allowing the side and front clearance to be cut. It might grind the top-rake, but not easily due to access too the wheel. If you use tangent-tooling, which I have never tried, a T&C grinder would seem the better sharpener than a bench-grinder.
The T&C grinder is not for hogging great lumps of steel off an HSS blank. To minimise wheel wear, remove the bulk of the metal with a bench-grinder, use the T&C machine for finishing the surfaces to the accurate angle.
For grinding an HSS blank to a particular shape recently, I cut the bulk away with an angle-grinder fitted with cutting-disc! Then a bench-grinder – actually to finished size as the tool was not critical, simply for undercutting the shoulder end of a spigot to be threaded with the form ground on the other end of the same blank..
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For grinding HSS lathe-tools you don't need a full T&C grinder unless working to critical angles, such as cutting threads. The clearance and rake angles are not too important for most materials, within a degree or so is usually near enough; but the edge sharpness is the important bit. The clearance has to go right to that edge.
One tool that does demand care is a parting-blade, for if its end is rounded or not at right-angles to the flanks (in plan) it can cause all sort of grief by trying to cut a chip wider than the kerf.An old error, and one that I took years to discover, is to grind a parting-tool at an angle to minimise the pip or burr left on the work-piece.
An insert-type parting-tool has a little V-groove along its top, tending to fold the chip inwards, but that would be impossible to give to a steel blade without a specially-designed grinder.
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For an ordinary bench-grinder, a simple table with an adjustable fence you can set to specific angles, would greatly improve it for tool sharpening. The table and fence can be made to be set with angle gauges easily cut from thin plate. For plain turning, free-hand grinding the tool to a template or adjustable-square will often suffice, especially if you then carefully hone the edge to a good finish with a fine stone.
Harold Hall's Tool & Cutter Grinding, in Special Interest Publishing's "Workshop Practice" series, deals comprehensively with this topic, to the extent of offering designs for tool-rests that effectively make a bench grinder into a simple T&C grinder.
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You often see that remark about HSS tools being "better" for low speeds. The machine's torque is only relevant for depth of cut (DOC), and all lathes have their limits for either HSS or carbide tools. A carbide insert can be worked at higher speeds than steel for the same material, but that is not the same as having to be. I have not found it a problem using carbide tooling at quite modest speeds on either my Myford ML7 or the heftier Harrison L5, for similar work diameter and material. (I often have the latter lathe ambling round at under 200rpm, as I estimate, with the 3ph motor still at a healthy 900 – 1000 rpm.)
It is usually easier to obtain a good finish with HSS if only because the insert tool is really designed for fairly specific materials and conditions, and seems to cut in a rather different way to a steel tool. This is particularly so if you find yourself trying to work some awkward stuff rather than good-quality free-cutting steel, and may need experiment a bit with tool geometry. HSS is also a lot cheaper!
I use both, but the HSS probably more than the ceramic-insert tooling.