So I have a piston AXA, a piston style BXA (both offshore) and a wedge Aloris BXA (bought on a day of weakness) Here's the dope: My AXA repeats really well and holds firmly enough on a 12X37 lathe with a 1.5 HP motor. The BXA: not so much on my 14X40 with 3HP motor. It seems to really depend on the maker and your luck with offshore tool posts. The Aloris, of course is rock solid. I have no plans to buy a CXA for my 15X60 7.5HP lathe. I will be using its 4-way tool post. I'll make an adapter for my dinky #1 Armstrong to use on the 15" If I feel a moment of weaknss, I'll make a shoe for the Aloris BXA to use on the 15".
David: There should be no rush to buy a QCTP for your South Bend. Yes, they are more convenient, but my mentor used his SB 9A with only a lantern for 40 years and did very good work. He held to close tolerances and even turned large items on it. If you can't find 1/4" square HSS tools I can send you some, already sharpened.
Another point of view: The piston ones theoretically aren't as good as the wedge style. I think it matters more about the quality of manufacture of the tool post more. A poor wedge tool post will be sticky and won't repeat worth anything. A piston poorly fitted isn't as rigid, and will also have repeatability problems. That said, repeatability is overrated. You want rigid.
For those who violently object: All I'm saying that there is no rush. His lathe will work fine with what he has. Time enough to save for a nice QCTP post... A lot of good skill development can be done with his Armstrong.