Ok, I have an update
I finally tested that Chinese CBN insert (a bit) and it does work. I wonder for how long.
First, let me put a
big fat warning. Don't run CBN as fast as your machine goes as I read to do before. I read a document from Sandvik and it turns out CBN tools have their max sfpm too, so one can burn them out. Different grades have different speeds, but I decided to use 150m/min(450sfpm) for my Chinesium grade CBN. This is about 670rpm for an 80mm shaft(3in)
I settled for 0.1mm(4 thou) feed and 0.1mm(4thou) depth of cut. This is an interrupted cut, because it seems I'm incapable of drilling a centre right... (with my steady being too small I had to use a hand drill and a punch mark). The shaft is hardened (appears to be 55~60 HRC, and chrome coated, chrome worn off on parts of the shaft). It was used as a pin/hinge in a big digger boom.
This shaft has no gouges or even there unevenness other than some chrome wear and rust, but unfortunately I have it running about 10 thou out. It seems much harder and tougher than the last generic hydraulic rod. Normal carbide lasts 10s, hard turning carbide cracks pretty quick too. HSS in a deep cut to get under the hard layer lasts about an inch, so in theory one could peel it regrinding repeatedly.
As my steady rest is too small I had to cut this shaft. So I cut it about 2mm deep (80thou) with angle grinder, then I tried my band saw with a hss blade. It did cut, but it took a very long time (1h - it woukd take even longer but half way through I rotated the shaft so it went much faster having less thickness to cut).
Then I tried the settings above with the CBN insert and it seems to cut very well. Almost effortlessly. The chip looks like an orange flame, but it doesn't burn up fully and when it lands it looks like steel wool. Unfortunately like steel wool it catches fire occasionally. It can be pretty dangerous if a fist sized bunch catches fire and it gets lifted into the chuck which throelws it around the shop. So if your lathe is near any gasoline/petrol you may want to hide that stuff.
The finish looks very nice... Pity that insert has only one edge. They are cheap, but when you think it is just one edge... It is not soo cheap anymore.
Why am I messing with this scrap in the first place? Well, I did a calculation today. I want to make a iso40 to custom drive arbor. I wanted to use a piece of 1045 80mm round(3in) I have. I bought that round (20in long) for $17 plus shipping and here I have exact same diameter scrap shaft which I paid $2 for (both bought years ago). Let's say the CBN insert costs $3 (I think I bought two for $5.5). That is still pretty big savings and I have that 1045 for something I will want to harden. Of course this only works if my time is free. Which it is at the moment.
Here is the photo of the finish I got(the rightmost inch was peeled with hss):