Re: new guy, need help understanding tool nose compensation
To answer your last question first: Treat the TL machines the same as you would a regular CNC lathe with the tool on the side opposite from the operator. Somewhere in the Toolroom Lathe addendum to the Lathe Manual this is mentioned. Actually if you look at the Graphics display on the TL you will see it is the same as a regular CNC lathe.
You do use G41/G42 to activate tool compensation and you need to have the correct approach distance and initiate compensation on a straight (G01) move.
An open mind is a virtue...so long as all the common sense has not leaked out.