Depends on what you want to cut, and how fast you want to get there. If you are making things out of aluminum, HSS is great. 660 bronze, Hss is good again. 1018 mild steel, Hss is ok. If you wnt to do projects in alloy steels like 4140, especially in the quenched and tempered state, you're probably going to want coated carbide inserts. Same story with Stainless steels, and tool steels. They can all be cut with Hi speed, but it's really slow.
If you do go with indexable carbide, Try to keep it simple. Triangular positive rake tools are pretty inexpensive if you go with the TPU style. You can get a TPMR for difficult materials and use it in those tool holders. Buy good carbide. The cheap stuff isn't really a value. Pick a grade that matches what you are cutting. Nice thing about plain triangles and 80 degree diamond (negative rake) tools is that you can also get fairly inexpensive Silicon nitride and ceramic inserts too. That is an amazing world to play in.