Years ago, I made the MLA-21 5C collet chuck from a kit offered by Andrew Lofquist. The casting was good quality and cut easily with HSS. More recently I ordered a semi-finished 10" chuck backplate on eBay. There was a world of difference between the castings. The backplate was nearly impossible to cut with HSS and was full of hard spots. I switched to an old, cemented C2 carbide tool purchased many moons ago from Enco. It cut the casting like butter. If you know the material is from a good source, I wouldn't hesitate to use HSS tooling. However, if you suspect the material was from an offshore source, I wouldn't attempt HSS, but rather go straight to C2 carbide.