Things that makes you go Hummmmm.
Maybe I ought to post the picture of a rifle shell and ask you if it would be a good round for Elk.
I thought that I seen it all, and I found out today that I haven't seen anything.
What you have there is some sort of parting blade.
You didn't say what type of parting blade it is, what materials it is made out of, what lathe you plan to use it with, how many horsepower it is, what tool holder you plan to use to hold it.
For all I know, you are going to hold it in your hand and run the lathe at 1000 rpms.
I guess my 4 years working in machine shops and 2 years of accumulated school time was all for nothing. All I had to do was buy a lathe and some tools and it would automatically make me into a machinist.
Also having read several books on the subject including the Machinist Bedside Reader, might give me just enough knowledge not to post on this subject.
A lathe, a live center, a 3 jaw chuck, a parting blade - made out of High Speed Steel and some cutting oil isn't all that is needed to work on rifle barrels.
Yes, a parting blade is made for cutting materials of lesser hardness than the blade.
Some stainless steels are harder than your blade. Even in a good machine shop with good machines and good tooling it is hard to cut. The tool sometimes has a tendency to skate across the material and will work harden the material that you are trying to cut and will actually do more damage than good.
Then you have to get into basic tool room knowledge - such as cutting and facing tools. You have right hand cutting and right hand facing and you have left hand cutting and left hand facing.
Then you have HSS - High speed steels, Ceremets, basic sinitered cutting tools, CBN. PCBN, I could write a list as long as my arm.
Then you still have to have a knowledge of machining, such things as speeds and feeds, surface feet per a minute of feed, threading, back gears, cutting on tapers etc.
Even a good book isn't going to make you into a machinist.
With the price of steel right now, round stock, square stock, odd pieces of steel and a cut off wheel and a band-saw will run into thousands of dollars.
Even with all that, you will still need a Bridgeport Mill and all the tooling for that and a pedestal grinder. Different grits of wheels and different types of wheels for shaping and honing some of your cutting tools.
I hope you have fun working on guns. It is going to be a very expensive hobby.