When I got my lathe it came with the typical lantern and a 4 way. I really liked the 4 way. I was looking into making another 4 way when I ran across plans for the Norman QCTP. I made one and have been very happy with it. Lately I have been doing some drawings of 4 way and 3 way tool holders for the Norman. Still working on some of the details. It may never happen.
The 4 tool bits that I use most of the time are a right turning bit, a facing bit, a threading bit and the parting bit. It would be nice to have those available by simply rotating the holder.