SOME PHOTOS SHOWING THE COLLET ATTACHMENT
The fixture with the collet attachment, ready to insert the collet holder.
Here I am re-sharpening one of those cheap Chi-Com carbide tipped boring bars.  Now I know the reason that I kept all of the ones that chipped.  I am using a diamond cup wheel for the carbide.  Actually, they are probably better than new, I'll see how long they last.  I spent a couple of hours   re-sharpening about 18 of them.  Some were pretty badly chipped on the tip.

Later, after this, I used the lathe bit fixture to re-sharpen some external threading bits, and was going to sharpen an internal thread tool that I made previously by hand grinding a point on one of these boring bars.  I discovered I could not obtain proper clearance to get at both sides of the point, using the 180 DA collet holder.  The ER20 holder will work just fine however. 
Sharpening the edge
Sharpening the bottom
Grinding the face