I just tooled up my first lathe as well. Here's what I ended up with.
Mostly the same but you need something positive for aluminum and stainless and even titanium ... I love Sandvik KNUX uncoated, they're the champs, especially in aluminum, even if a bit pricey.
A round insert is useful sometimes too.
Don't like dnmg's much and
really don't like vnmg's. Besides being fragile as hell the holder is never at the right angle for what you need to do. But I recently saw these - does any major name make something like this or is it just a wacko idea a small tool company had ? Neutral holder, positive rake in the insert all the way around, I could see using these for finishing .. maybe two holders, one for straight in and one up to a shoulder on the chuck end.
Looks intarethting, vewwwy interethting ....
For all-around versatility, grab an old-style boring bar with the square hole in it. Then when you need to do a .0952 groove, you can just grind one up out of high-speed. Or a radius bottom, or whatever. Or even a normal size, if it's only ten parts then you don't have to buy a complete box of off-the-shelf-but-out-of-stock-but-we-can-order-for-you inserts.
Definitely get the kind that clamps on the top if you plan to do much partoff / deep grooving. The ones with the cheesy little pop-in inserts are sort of okay but not good for anything with any side loading and they tend to wander and the choice of inserts isn't so good.
- Neutral SNMG holder for quick chamfers and interrupted cuts, and because SNMG inserts are super cheap
People don't recommend squares much, i guess because you can't turn and face with the same insert but yeah. Cheap and work good. You can rough with them too. I shoulda used them more
Oops, almost forgot. Threading. I loved them sandvik laydowns, loved em to pieces. A little expensive (says Sandvik on the box, right ?) but boy do they make nice threads.