This may be of limited help, but...
A couple of weeks ago, I was wondering the same thing. I picked up a "drop" of 1 inch round titanium bar and tried it out on my South Bend 9 (manual) lathe. What I have always heard about titanium is that you need hard and sharp tooling, and coolant is advised. Preferably flood coolant. Of course, I don't use flood cooling on the SB9, so I go slower. I used a brand new carbide insert. I ran the lathe at about 300 rpm and took light cuts doing both turning and facing.
I've used the SB9, the manual Bridgeport, and the Tormach 1100 on a fair bit of 304 stainless over the years. Compared to the 304, the titanium is wonderful.
Unlike 304, it doesn't seem to work harden. This meant that I could take light cuts and not worry that I wasn't "cutting under the work-hardened layer". (If I attempt a light cut on 304 and the tool is any less than scary-sharp carbide or stellite, the surface finish looks like the metal was being torn away, rather than cut. It looks and feels just nasty.)
Like 304, you want to keep it cool and use a sharp tool. Also like 304, if you get long continuous chips, they're murderously sharp. The surface finish is also pretty nice.
Note that I'm comparing titanium to 304, not 303. I did some 303 recently, and it caused me to slap myself in the forehead. If you're somewhat used to 304, as I have been, 303 is wonderful. I don't have a lot of time on 303, but in my limited experience, machining it is not very different from titanium. Titanium is just more expensive, hence, so are mistakes.
My $.02
-Mark