I made my self a rigid cast iron block to replace the compound. I still have the compound for when I need to do threading and tapering, but most of the time I'm doing turning, facing, boring and parting so the ridged block is the way to go. I run this on a Logan 922 11". It has made it able to part like a Hardinge.
I'm with f350ca, make a solid plinth. You will use it all the time and only fit the compound when needed. Bronze welding Cast Iron is a good solid repair and a pretty straight forward job and cleanup. Make a new one at leisure.
SS can be real *****y stuff to machine. Can I suggest running the parting tool upside down? If you have a screw on chuck there are several posts about solutions otherwise make a rear mount toolpost. This is probably the best solution as it makes parting easy and safe.
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