I own a small lathe, HSS tooling - the AR Warner 3/8" turning and boring set and home ground tools - as well as inserted carbide tools so I'll take a shot at this one.
The AR Warner set is very nicely made, as are their inserts. Their HSS inserts look just like carbide inserts except they are made of HSS. The inserts are flat-topped. I cannot recall the clearance angle but never experienced rubbing with them. They can be sharpened easily by honing the top of the insert on a extra-fine diamond stone or bench stone, provided they aren't allowed to get too dull. The tools also take carbide inserts and AR Warner can tell you which inserts will fit their holders.
The ARW tools are used just like inserted carbide tools except that they finish much, much nicer than an inserted carbide tool. Are they better than a good home ground HSS bit? In my opinion, absolutely NOT! A well-ground HSS tool will rough deeper, finish better, and hold tighter tolerances than any inserted tool, both HSS or carbide, on a small lathe. Of course, this requires that you be able to grind the tool that you need. On the other hand, the ARW set will cut brass nicely due to the flat top rake. The ARW set also gives really nice finishes on stainless steel and almost as good a finish with tool steels. I don't cut titanium or inconel so can't comment on those. They will cut and finish mild steel, aluminum, brass and most plastics well, also.
So, if you cannot or do not like to grind HSS tools then the ARW set will probably work better than a carbide set on a small lathe. Neither type works better than a well-ground HSS tool. The HSS inserts are expensive since they are proprietary; you won't find them on ebay for low cost like carbide inserts. They do last longer than carbide since they are less prone to chipping and can be sharpened on a diamond stone
Hope that helps.
The AR Warner set is very nicely made, as are their inserts. Their HSS inserts look just like carbide inserts except they are made of HSS. The inserts are flat-topped. I cannot recall the clearance angle but never experienced rubbing with them. They can be sharpened easily by honing the top of the insert on a extra-fine diamond stone or bench stone, provided they aren't allowed to get too dull. The tools also take carbide inserts and AR Warner can tell you which inserts will fit their holders.
The ARW tools are used just like inserted carbide tools except that they finish much, much nicer than an inserted carbide tool. Are they better than a good home ground HSS bit? In my opinion, absolutely NOT! A well-ground HSS tool will rough deeper, finish better, and hold tighter tolerances than any inserted tool, both HSS or carbide, on a small lathe. Of course, this requires that you be able to grind the tool that you need. On the other hand, the ARW set will cut brass nicely due to the flat top rake. The ARW set also gives really nice finishes on stainless steel and almost as good a finish with tool steels. I don't cut titanium or inconel so can't comment on those. They will cut and finish mild steel, aluminum, brass and most plastics well, also.
So, if you cannot or do not like to grind HSS tools then the ARW set will probably work better than a carbide set on a small lathe. Neither type works better than a well-ground HSS tool. The HSS inserts are expensive since they are proprietary; you won't find them on ebay for low cost like carbide inserts. They do last longer than carbide since they are less prone to chipping and can be sharpened on a diamond stone
Hope that helps.