do you have a jeweler's lathe? it seems a little bit small...
To start with I've done a lot of great work with my lantern toolpost - there must be reasons for adding another... Care to share?
Every lathe I own has a rocker toolpost, a 4-way tool post, and an Aloris style tool post. I like them all, each for different reasons. They each are very well suited for a wide range of operations.
The easiest and cheapest to make (if you have access to a mill) is the 4 way tool post. People will slam me for this, but properly tooled, and well made, it is the most rigid of all the tool posts, except a solid block to the carriage. Most people (incorrectly) shim tools to get centre height for a given tool. That works in an improvised kind of way. I have milled my tooling for my 4 way so that the tool is always on centre without shims. saves time and is the best set up for rigidity.
For such a small lathe you could also consider the Aloris style in the 0XA sizing. The Aloris type is very versatile, but you have to shell out for holders for each of your tools. It can get mid-spendy if you have a lot of tools. (not as spendy as some, however)
The real question that you should ask is what do I need to do with my lathe that I can't do now? The answer to that is going to give you direction on how to spend your money well.