Thanks for all the replies. I'm learning more about how little I know! To answer some questions:
My lathe is a 25 year old 9x20 Buffalo (the Taiwan variety) with change gears.
For tools I use indexable carbide almost exclusively. I only use HSS when doing small inside turning. The insert is Fansteel 09906181. Triangular, TPG 221. It has quite sharp points, but with a definite very small radius. Maybe 1/64? I got this batch some years ago and really don't remember what it was supposed to be for - but I generally try to get something like this in a kind of middle-of-the-road variety rather than have a dozen types.
For stock, I've tried using a plain hardware store bolt , and a piece of 3/8 rod out of a lawn chair. I have some 3/4" shaft stock from Enco that I got for an axle where strength was an issue, but it's been years and I don't remember the alloy. I hate to turn down 3/4 to get 3/8, but maybe that's next.
The carbide insert holder holds it level- zero rake. The sides look to have plenty of relief- looks like about 20*.
Technique - I thought I knew how to use the thread indicator dial on the lathe, but when I opened the half nuts, backed out and reset the cross carriage, waited until the dial came around to the SAME number as when I started, the second pass was way off. Like halfway between the first threads! And it only got worse.
I finally resorted to the European way, leave the half nuts engaged, stop, back out cutter, reverse lathe. That at least got the second pass in line with the first.
I am using the compound to feed the tool, and I have it set at 30*.
I do have diamond stones, but have not done anything to the carbide inserts. That's the whole point isnt't it?!
If there's a special insert for threading I expect that's what I need. I'll check the Enco catalog.
Good thing this isn't a time-critical project!