I ran some gang tooling along with a QCTP (Quick Change Tool Post) on my old connect lathe.

I had mine setup to take three ER collets. Details of the setup can be found at http://www.machsupport.com/forum/ind...c,20153.0.html

There are plenty videos on youtube for ideas, but the big limiting factor is X-axis travel.

Personally, I'd see if the tool changer could be made reliable, as manually changing tools continually gets quite monotonous.