Mark Mandell said:
I have noticed more than a few turners who, as Mr. Mouse observed, grind a lot but seldom just sharpen. The key to this is having your sharpening tools set up correctly. With a properly set jig (I use the Wolverine) sharpening takes a miniscule amount of metal away; just kissing the steel to the wheel sharpens the edge. I sharpen a tool in all of about 45 seconds: Tool into the jig, zip the first half, zip the other half, a zip-zop on the inside of the flute with the hard Arkansas slip, and I'm back cutting wood.
I don't use a jig other than the bevel on the tool, as Roy Underhill says, so I'll just say that one pass left, one right on a grinder is good enough to refresh an edge in my way of turning. I seldom hone, preferring to gain from the bit of "tooth" that an edge fresh from the grinder gives.
Since I am in no way capable of guiding the tool over a variable curvature surface with the repeatability of a grinding jig, I use the general principle of steep angles to poke, shallow angles to peel and go by tactile and visual feedback to refine my angle of attack and compensate for variations in the piece. I also hollow out to in, in to out to use both sides of the gouge when hogging inside, something I do not observe everywhere. Those who don't might give longer life to their tools by doing something similar.
Then there's the business of trying to make one tool serve all, something I feel is counterproductive. Broader tools peel better than narrow and give a greater bevel reference to reduce ridging. Poking tools can be ground with large included angles without much harming the poke, while peeling tools like lesser included angles. Don't ask me what they are in numbers, because I don't know. If a tool starts to peel less effectively I just grind a slightly longer bevel to compensate for previously useable, but probably steeper angle freshenings. If the bevel is too long to make the curve without dragging the heel and making those @#$%^&! compressed rings that are the devil to sand away, I pick up another gouge with a shorter bevel.
Sounds like those who go through a lot of steel fast might benefit from some of the exotic alloys. I haven't found them to remain effective for the way I turn long enough to justify the expense.
Gretch, if you use a bowl gouge to rough the outside of your turnings, you may certainly use more of the flute you paid for by using the general principles enunciated above. Since you never really have to tolerate much overhang on outsides, they'll do fine, and never hit the rest.