Over the years, I have used from Pop's electric drill, a UniMat DB-200, through the "minis", a Grizzly 1550, and an Atlas/Craftsman 12x36. Of my own, then add in a few I've used once or twice of others'. In all those cases, I used a 1/4" Chinabide tool for general cutting. I seem to bust an inordinate number of tools (and knuckles) so find the cheapest available. I also make a lot of customized cutters for my model building projects. Then manage to lose most of them when the project is done so end up making another for some other project. Shimming cheap tooling is a way of life in my shop
.....
You mention the less than ideal tooling (Chinabide) that usually comes from Harbor Freight or the like. I get a large percentage of my cutting tools from there and don't understand your having to grind them before use. To start with, when grinding carbide tools, you must use a
"green wheel" grinder. A regular grinder is
never used on carbide. It won't cut it. It gets cut by it. You
must use a silicon carbide grinder. Or, I use a
diamond grinder with my Dremel tool when making shaped cutters.
You probably have a problem with centering verticaly. With tool steel cutters, setting tools is fairly easy, albeit touchy. Carbide is a little more exacting. The cutting edge should be dead center or just a fuzz below.
Never above. My mustache hair is 0.007. A fuzz is about a third or less than that. Use a slip of paper or shim stock between a round item chucked up and the tool. If the paper tilts away from you the tool is too high. If it tilts toward you, it is too low. Ideally, it should be dead vertical. A nail or a short piece of pipe would do for starts.
I do most of my work in brass or mild steel, very little with the tougher grades. There are many who could give a more usable answer. There are many books, as well, on the subject. My advice (seldom given) would be read up on it. I won't suggest the best book for you to study. There are many and your use is likely far different from mine. Face it, I am as likely to rough with a tool and finish with a file. Not very professional
.....
Bill Hudson