I use carbide only, with a 7x lathe and a 12x lathe.
It has several benefits, ime.
First, its consistent.
Second, I can turn hardened, very hard, ballscrew ends without trouble.
And drill rod. And hardened bolts - which leave a great finish.
Carbide inserts dont chip easily, ime.
I use the right type of inserts, or at least they work well for me - triangular and CCMT.
I can take a 0.01 mm cut in steels, even less, with CCMT effortlessly.
But thats on my 12x lathe, I have converted it to cnc, and I use 12x more rigid cross slide with a 0.750 inch overconstrained ballscrew.
I have a better than 1 micron resolution on the x and z axis.
It may be why I can get very fine cuts on the x with (new) carbide.
I also use my lathes quite a lot, about 2000 hours in 6 years.
My costs in carbide are trivial - maybe 500 € in inserts and 500 € in toolholders, over 6-7 years.
Thats for about 200 inserts, 80% still in boxes.
And internal and external turning tools, acme inserts int/ext, thread inserts, generics and on and on. So a LOT of inserts and a lot of toolholders, including 1" thick boring bars etc. for little money.
Just steel in the same time has been at least 4000€.
My 12x lathe is also very good - its so rigid, that if I stall it cutting steel, 1/2 the time the inserts (fragile ccmt) wont chip.
It has 1.5 kW industrial motor and can fully absorb/use it.
I am now converting it to a servo indexed spindle, 2.5 kW.
So, with carbide i get faster results, better finish, more consistent, turn stainless and hard materials routinely and effortlessly.
Costs are maybe 1/20 of total costs.
I spend about 500€ month on tooling, so carbide costs are less than a blip, for me.
I dont, at the moment, make commercial parts. I may, soon. Mostly cnc kit.
From the people who have had difficulty with carbide, it seems most have not used positive rake inserts (ccmt) and or good toolholders.
I find the glanze (indian) toolholders to be very good value, and all ccmt inserts brands have worked for me, about 5-6 brands.
98% of my turning is steels.