How far out of the chuck did you have the work piece sticking? That and tool height can be part of your issue.
Did the HSS give you a better finish than the carbide?
Tool bit out too far.. Yes, that and length of part. Turned to ½ by 10” long or so would be a long part and tend to chatter with needing a very sharp bit and light feed and depth of cut or a steady.
Do keep posting you finding about your Smithy 1237
.001 for a 3 jaw is not bad at all.
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