For my part I'd chuck 1/2" 316 SS bar in a 5C collet.
I'd turn shank down to 1/4" diameter and just shy of final length.
Then turn down portion of shank outbound of threaded portion to 1/8"
Chamfer end of the part. Below showing only the right side of part protruding from chuck
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Chamfer start of the threaded section.
Cut thread relief to end of threaded section with V tool.
Then run 1/4" -16 acme die over part or single point the thread and test the thread using a test plug tapped into 1/2" diameter by 3" blank.
View attachment 424209
Then I'd turn down the shank inbound of the thread to final diameter 1/8" and face the inside face of the thumbwheel.
View attachment 424210
Now what.? Do the same for all the other blanks.
Then I'd chuck up the test plug aka fixture and then finish the final steps on the parts by threading them into the fixture.
Face to final length dimension.
Chamfer.
Groove.
Knurl.
Unthread part.
Insert another half completed part. Rinse and repeat.
I can set these operations up on second operation lathes with a cross slide.
What I'd love would be chipmaster lathe with the optional turret