Hi Ron
I see many have had better success than I had. I made my own single flute cutter that was found on Bob Warfield,s site. I run it through its paces during testing, and I gave up with the single flute design. I found it would cut aluminum pretty good, but steel was a different story. Finding the sweet spot for speeds and feeds was a challenge to say the least. The 3-flute would probably do a better job, and with less hammering effect on the spindle. I havnt attempted to make one of those, maybe one of these days.
For the few jobs I used my home made cutter, I ended up throwing it in the scrap bin, and buying the HSS dovetail cutter instead. First reason was the hammering on the spindle. That sound just makes me cringe. The second thing was the inserts seemed to chip really easy. Being a single flute cutter, that was no real surprize to me, I expected it. The store bought cutter has fragile tips, and getting the feeds and speeds was key to keeping the tips where they should be. The HSS cutter with multiple flutes was much nicer to the spindle.
That 3 flute cutter might be worth a try, I would be interested to hear how that works. I havnt wanted to put my spindle through the pounding since the last go. But , If I do need a few tool holders the next time around, I have been toying with the thought of making them with bolt on dovetails to the block. I figure it should cut down on time standing at the machine, and should be able to be made plenty ridged, but this has yet to be tried by me.