I have never used a round nose tool like that for parting for a couple of reasons; first one is that I expect chip clearance would be an issue once the tool was deeper in the part off groove than twice its width; second one is that it would leave an enormous ridge on the parted off piece.
It is very easy to put a radius on either side of the part off just using a regular parting tool. If you want to do any other turning or profiling use the appropriate tool.


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