I have been running mine for a few months and have turned cast iron (6"), steel (3"), aluminum, brass and I the finishes I get are pretty darned nice. I have used HSS, carbide inserts and brazed carbide.
The only issue I have had is the loose nut on the handle! By that I mean selecting the correct cutter, speed and feed. The bottom line is the machine is not dependent on a particular cutter to get a good finish. If you are new to lathes get some HSS bits and grind them up. It will teach you quite a bit and it will be worth it down the line, especially when you get into a situation where you need a special shape.
John