You can drill deep holes with the tool post instead of the tailstock and it's way faster.

I have been drilling with the QC tool post by power feed of the carriage for a good 50 years now, the holders are Aloris, both in Morse taper and a mounted drill chuck. My method of starting the drill and aligning the tooling is to use a center or spotting drill and approach the center of the part and set the vertical and horizontal by running the center drill up to the part while it is turning until the trace of the drill is in the center of the part, then drill into the part; it is easy to eyeball the correct alignment.
 
I have been drilling with the QC tool post by power feed of the carriage for a good 50 years now, the holders are Aloris, both in Morse taper and a mounted drill chuck. My method of starting the drill and aligning the tooling is to use a center or spotting drill and approach the center of the part and set the vertical and horizontal by running the center drill up to the part while it is turning until the trace of the drill is in the center of the part, then drill into the part; it is easy to eyeball the correct alignment.
How do you ensure that the drill is running parallel to the spindle axis?
 
How do you ensure that the drill is running parallel to the spindle axis?
With the Aloris tool post squared up to the chuck face, the taper tool holder is automatically aligned, In fact, I use the tool holder to run against the chuck face, I use a CA54 holder for squaring up initially, it has a #4 MT, then sometimes use a CA 5 with #3 MT for drilling using a Jacobs chuck, all this on my 19" Regal leblond lathe. Kind of a big lathe for hobby work, but when I sold my business, the buyer did not want this lathe, we had two Regals, and he kept the longer of the two, and we split up the Aloris tooling.
 
When I was an apprentice, we did a lot of drilling in the lathes, mostly using a "lighthouse" boring bar holder with a straight MT socket, this was not real easy to get aligned due to weardown on the carriages with the need to do shimming for alignment, plus parallel alignment, only one lathe had a shop made drilling block with taper socket, and only one of the lathes had a QC tool post, all that was upgraded eventually after I left the scene.
 
Great conversation. In defence of the tailstock, it is on centre and always ready to go to work.
I have a SB 10" and the only annoying thing was indeed the wrench lockdown, I solved that by installing a lever lock.
Yes, tailstocks have a short reach but drills need to be cleared of chips and lubed all the time, also, there is no setup in repeat operations and it leaves your tool post free..
For what it is worth IMHO.
 

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Worst thing about drilling with the tailstock is the chance of the drill or chuck coming loose and spinning in the quill, a common cause of burred up and no longer accurate interior taper.
Great conversation. In defence of the tailstock, it is on centre and always ready to go to work.
I have a SB 10" and the only annoying thing was indeed the wrench lockdown, I solved that by installing a lever lock.
Yes, tailstocks have a short reach but drills need to be cleared of chips and lubed all the time, also, there is no setup in repeat operations and it leaves your tool post free..
For what it is worth IMHO.
I do very much like your cam lock tailstock, my Monarch Jr. 8" lathe has the older type with a wrench; it is a PITA! Takes more than just a small wrench movement to be able to move it. A friend has a nearly identical lathe, except his has a lever lock feature on the back side.
 
I like having the force centered on the toolpost so it doesn't rotate:

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Yes I need to make more substantial QC holder and add a height stop.
I'm thinking a whole replacement tool post. Just a block of steel that gets bolted down to the T-nut and has a morse taper drilled in it. Drill the morse taper with the lathe spindle and it will be on center. No height adjustment ever necessary, just bolt it on and go. Would be just as fast, probably faster than a quick change holder, and more rigid.
 
Maybe no Morse taper and use a chuck with a screw mount so just need a block with a threaded stud sticking out.

Then have the block closely keyed in the table slot so it is perfectly straight every time. Also right height. Just need to set the cross slide position.
 
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I'm thinking a whole replacement tool post. Just a block of steel that gets bolted down to the T-nut and has a morse taper drilled in it. Drill the morse taper with the lathe spindle and it will be on center. No height adjustment ever necessary, just bolt it on and go. Would be just as fast, probably faster than a quick change holder, and more rigid.
I'm lazy. QC is faster. When I replace that QT dovetail piece I will make it larger so it rests on the compound at the correct height. Then I only need to adjust the cross slide postion.
My setup has a JT4 male taper mounted on a screw.
 
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