+2 or 3 on the HSS tooling when you are starting out. Grinding an adequate tool is pretty simple and when you do something stupid, you can just re-sharpen it. I switched over to carbide some time ago, but I am coming back to HSS. I find I get a better finish with it in lots of applications. As mentioned above, carbide chips very easily and, after a while, it is tough to keep throwing away $9 inserts. As far as what to get started with I'm not a big fan of just buying one of everything in case you figure out what it's for later on. As you will find, tooling up costs as much as the machine. Beyond getting a QCTP and a couple of basic cutting tools I wouldn't go hog wild yet. I try to get tools as I need them for specific tasks. Most stuff can be had in a day or two off the internet. I like McMaster-Carr. If I order by dinner time today, it comes tomorrow. You can find better pricing if you hunt, but I don't think you'll find better service. So, pick a project and get the stuff you need for it as you go along. Don't jump right into trying to modify the breach block of a rifle. The chances of a disaster are too great. Down load some plans for a wobbler steam engine and see how that goes. I think you will find that having a project will give you a specific direction and some goals to meet much more than throwing a piece into the machine and reducing it to chips. For operations that are new to me, I always do a rehearsal piece or two to learn how that operation works before I try it on a part that I want to keep. I think one of the most important things to learn in lathe work (or about any other) is how are you going to hold the part while you work on it. If you need to make a 1/2" thick part 1.1"dia with a hole concentric to the OD it is relatively difficult to hold onto that and work on the OD and a hole in the middle w/o some extra stock to hold onto so you don't start with a 1/2" slice of round bar.
Basic stuff that you will need: QCTP, drill chuck for tailstock, three jaw chuck for spindle, four jaw chuck for irregular parts, probably a face plate, but not right away, decent set of drill bits, center drills, three or four cutting tools, book about basic lathe operations like the classic "How To Run A Lathe" originally from South Bend but available all over the internet. Haven't looked, but it can probably be downloaded for free someplace.
Good luck, it looks like you have a nice machine to start with.