Acknowledging up front on this thread that not every turner has the same amount of expendable cash, does the same level of turning [full time, part time, hobby, and some just occasionally....the approach we turners take to tool acquisition varies quite a bit, and I think the approach one takes will vary the results one gets as well. Me, I want to optimize my tool acquisitions to get maximum results and returns. I do not want to get a tool that will give me less than optimal results within my budget restraints.
There are also all different stages that we turners are at, such as just getting into it, and learning, versus the seasoned turner who wants to get the very best tool he can for his money...gouges being an example. Wanting to not spend money on the premium tools and then have a learning curve on sharpening that just grinds the steel away in the learning curve of sharpening, versus purchasing a "starter set" of fair quality such as the Benjamin's Best or some get the Harbor Freight to start out, which I think is legitimate.
Those examples being stated, I do think there are a number of turners who frustrate their own success by trying to do things on the cheap so much that they try all sorts of work-arounds, and ignore the body of information that exists from decades of turning and fairly standard grinder setup and tool selections that have been solid staples of the turning craft. Sometimes budget constraints do create problems for us, but there should be some givens to recognize in the acquisition of tools, grinder setups, and lathe features.
Example 1. From my research and exposure to the turning world, the turning community has come to a pretty solid consensus on grinder setup regarding size.......and that is the 8" slow speed grinder. Sure it "can be done" using other size setups, and high rpm's, but they are outliers, and require perhaps different setups and techniques to get satisfactory results.
That deviation may actually be an attraction for some who prefer to go against conventional wisdom, and develop a personal approach that is different from the vast majority of successful turners. Yep, it can be done by some, but the newbie coming in, will benefit from that body of conventional wisdom, or, that hobbyist who is in the exploratory stage and wants to up his/her skill set and results they get. We do not have to re-invent the wheel all the time, as we can build upon what has been proven time and time again to work successfully!
Example 2. We have all heard the joke about woodturners......." I am just one tool away from greatness." Well, admittedly, there are probably few turners who are more oriented towards trying new things than me, but I do have a rationale behind my tool acquisitions, and that is it has to serve a needed function, and I don't purchase to to "have" a particular tool. That means approaching an acquisition with thoughtful consideration of functional purpose, value and quality for this turner. I try to avoid "impulse" buying of anything, that way I assure that "thoughtful consideration" process gets carried out before pulling the trigger on any major or medium purchase. Of course, I do have drill bits that I don't regularly use that came in sets, but that was the value versus purchasing individual bits, and I do have the other sizes in case they are needed in the future.
I have quality tools, and learned from past mistakes on getting cheaper tools. At one time, I had gotten homeowner grade power tools, but for the last 25 years I have gravitated to professional model tools because they are just plain built better, and my money is not down the tubes after a few uses, where I pushed the tool in a project that really called for a better tool. Drills, circular saws, miter saws, etc taught me this lesson. While not a contractor, I have taken on many projects that called for heavy duty use of tools......built decks, built cabinetry for kitchens and baths, remodeling, etc. One finds out in those environments what a tool is made of. I used to have cheaper chainsaws.......changed out to Husqvarna pro models after seeing those small homeowner models just could not cut the mustard in heavy usage. You get my point.
I just wanted to present some thoughtful concepts which might help someone coming along. Turning is an expensive hobby, and frustrations can abound with cheap tools, but one has to find the right balance in quality/value/available budget, and it is best to approach the acquisition of tools slowly, becoming proficient in their use, and not just purchase everything you see advertised........even though that does help the tool vendors. I can look back on my turning experiences over the last few years, and honestly say that I really do not have any regrets on my tool acquisitions, with the exception of the Sorby Hollowmaster. [that was a pig! ]
My approach has served me well.........I invite responses to this discussion with your mindset on how you go about tool acquisition. This thread might just be helpful to a number of folks who are looking to experienced turners for some guidance through the maze of options before us in the turning world.