Doug, it's not that tricky to mill the insert pocket, especially if you're going to use a triangle shaped insert. Stick it in the vise pointing up at the right angle (45 deg? bit more maybe?) and side mill the pocket until you hit the right depth (towards the center of the bar) and the center line of the bar. Rotate the bar 7deg (for TCxT inserts) and cut the back wall. Rotate it a bunch more to give chips somewhere to go above the insert. Take the bar out, put an insert in the pocket and mark where the hole is. Drill and tap the hole maybe a thou or two towards the back wall of the pocket, that'll help pull the insert into the pocket tightly.
Then when you set up the bar, rotate the insert tip down until it's on center height, that will give you the clearance under the tip.
It'll take a little while to do, but you'll only need to do it once!