Originally Posted by
blades
drmico is right I believe, that the LMS kit looks like a great place to start, although I am confused as to why it comes with a drill chuck. My 7x came with one. I do have to politely disagree with buying HSS blanks and a grinder, unless you go big with the grinder, or small with the tool bits. Grinding a cutting tool from a blank requires a grinder with balls, and a larger grinding wheel will serve you well.
I personally think the indexable tools that come with the LMS starter kit are junk, but it's a place to start.