Easy indexable, tool free, self locking lathe insert holder.

[Ironman2]

I have several round insert tools and I am not sure what the advantages of this design are, so I'll ask.
My tooling allows a 1" depth of cut but is a straight bar. What advantage does dropping the base, ofsetting and putting the cutter on a pedestal create?
And benefits of a cutter that can be rotated without the allen wrench?
My insert holder is straight but I may buy/build one with a cutter on the left edge so I can work closer to the chuck. This type of cutter does a wonderful job of cutting out weld beads or any intermittent cutting, and leaves a good finish. I mostly use it on steel.

 

[Parlo]

Thanks for the questions I'll try to answer them all.
Firstly, when you refer to the depth of cut I don't think you mean the insert depth engagement. I'm assuming you have straight tools like this.
The depth of cut I believe you are referring to is the depth from the insert edge to the shoulder.

I'm not suggesting this toolholder has any benefits, it's something I wanted to try, simply to see what happened.

However; I don't like changing or rotating inserts on the lathe, most other insert shapes need to have the insert removed then cleaned with compressed air and re assembled. I am conscious of dropping the insert or screw onto a pile of swarf, so I also remove the toolholder and change on the bench. For me, rotating the insert with my fingers on the lathe is a small advantage.
The reason the insert is on a pedestal is that it amplifies the tangential forces from cutting to lock the pedestal & insert in place, it also gives clearance when facing. There is a lot of potential refinement, although this is fairly simple with only two bespoke parts.

I have since modified the toolholder to tilt the spindle and insert by 15 degrees from the horizontal. This still cuts well in both directions it now gives enough clearance to face off any diameter and makes the spindle simpler. This also allows turning nearer the chuck like this tool below. If I started again there would be a few refinements including other shape inserts and possibly similar to the standard configuration below.