My first lathe belonged to a family friend, he was a fitter and turner and built it himself, it was vary basic and lacked many of the niceties, like power feed. I bought it off his estate and it came with a lot of high-speed steel tooling that he had ground into various shapes. I did a lot with that and eventually bought a more modern one (paid for by digging boolits out of the berms at my pistol club, melting them down and selling the ingots to reloaders ). While I have carbide tooling too, I get a lot of enjoyment out of shaping high-speed steel bits to suit a particular purpose.
I also have one of those little "mini lathes" that are common on ebay and find it very handy for small jobs, plus one of those small mills. The mill is, of course, limited in what it can handle but I've found it very useful to have. I love machining aluminium and brass.
How about a photo of the stylus, Bruce?