As was said save the Carbide insert tooling for production work on heavy machines running precisely calculated speeds and feeds bordering on redline.
I use exclusively HSS for threading, boring, and turning. I grind it on an ordinary bench grinder with dressed wheels, you don't need fancy to git'er'dun, but you DO need to understand cutter geometry and how to set up the tool on center or slightly above or below depending on what you're doing. An Arkansas stone is essential for final sharpening and fine finish. If you can't shave hair with it, don't try cutting steel with it.
Insert tooling is very handy, and HSS inserts are available just like sintered carbide, however there is nothing as handy as being able to grind exactly the form tool you need for a certain job, on the spot, and not need several thousand dollars worth of insert tooling and bits to cover your bases.
Get a fishtail gauge and learn how to grind your own HSS threading tools.
Anything you are ever likely to need to do on a lathe has been covered very well by Tubalcain (mrpete222) on utoob. This old Tony also has some shirt, funny, and to the point videos on some lathe basics.
Hobby machining is very different from production work. We're like a job shop but with the luxury of time. Keep that in mind when looking at tools and techniques and don't confuse the way the production pros do it with always being the best or most practical approach to what you do in your home shop.