I concur, running a lathe in reverse is very helpful for things such as power tapping/die-ing (not to be confused with power dying!) and chamfering, either ID or OD. Swiveling the compound to 45 towards you can make it uncomfortable on a larger lathe, so you can make it 45 away and run the lathe backwards.
Never have cut an inside thread with the rotation backwards. I just point the tool towards me and feed right-to-left, normal rotation. But then, I haven't done a great deal of ID threading.
Having reverse is also great for when you don't have a threading dial or cut metric threads on an inch machine/vise versa. Engage the half-nuts once, cut the first pass, stop the rotation and pull the tool away, reverse back to your start position. On my Atlas with a threaded spindle, I made a hand crank to accomplish the same thing, as it has no reverse to begin with. Putting it in "neutral" to the motor doesn't disengage the feed gears, fortunately.