when you skim discs use a slow speed and no coolant
clock the face true so you get no run out

tabetha
there is so many variables to look at when machining
centre height of tools is important,more so when facing and grooving/parting
revolving centres work well,if you turn between centres you might have to adjust the tailstock for tapering
4 jaw chucks come in handy for off centre / square bar etc
a face plate you would hardly use so is a waste of money
digital speed indictor is just a gimmick,get a digital readout with scales for the x and z axis
use a dnmg style or cnmg style tip for roughing, .8 rad and set the feed fairly coarse
use a dcmt or vbmt style for finishing, .4 rad
find the cheapest coolant you can but mix it at 2% or 5% for a fresh mix