Just bought a set of indexable cutter bits from Harbor Freight for $25. I have a 7x10 Harbor Freight mini lathe I picked up in a garage sale for $75. I used one bit to resurface the ferrule face and to trim a soft UltraSkin layered tip from Tom Hays. Really did an excellent job and I'm very pleased with it's performance. Was wondering how many tips one might be able to trim with one side of the insert. I'm not in the business but just do my own tips and those of my friends in an over 55 community. I'd guess at about 1 or 2 tips per month. By the way, everything I know about tips and ferrules I've learned here on AZ Billiards and viewing youtube videos. This is a great site for us do-it-yourselves. Thanks to the many professional cuemakers that share their knowledge, us beginners appreciate it.