I have AXA for my 10" and it is just right. As advised, get several extra tool holders! Having too many is the same as having too much money. I also have a cut off blade tool holder and a knurling tool, although I think a hand held 3 knurl works better. You will find that if you have a holder for 1/4", 3/8", and 1/2" bits each set up, when you want to change sizes, each one of them is already set at the correct turning height.
I haven't used a lantern tool post since I got quick change because it is sooo very much more rigid. Makes it like a much much more powerful machine. you can get AXA off of eBay at reasonable prices.
Enjoy!!