I just finished up my toolpost holder for my lathe according to your directions.  It's really solid and cuts beautifully.
 I thought I would send you a picture. I just barely faced the 1/2 plate on both sides so it's pretty beefy.  The round
 is about 2.75 dia.  Now I need to make my own holders for some carbide inserts I just bought.
 I left the handle threaded for 3/8 on the end because my next project is going to be the ball turner.
 That looks like a lot of fun to use.
 Thanks, Mike
 
   ( Great job Mike and thanks for the picture! )