Depending on how much you want to spend on tool holding it might be worth looking at the RDG site. They do Dixon type quick change tool holder for Myford style lathes and for about £65. For that you get the tool post, two standard tool holders to about 12mm, a boring bar holder and a parting blade holder with parting blade. This takes away the need for packing pieces used on a standard holder and allows quick changes between favourite/most commonly used tools. Height setting is dead easy and the quick change is a boon because once the height is set for a tool it repeats exactly until you change it.
I adapted my lathe to take one of these and haven’t looked back since. Parting off steel bars of over 1 ins is easy and trouble free as are the normal turning tasks. I think that the extra mass/weight it give to the tool assembly helps to damp down any vibration/chatter.
Hope this helps
Martin