Lenny,
The type of machine, condition of machine, type of chuck, type of center, type of steady rest, and specific material have a profound effect on what you are trying to do. More information would be required to give any real help.
Some rules of thumb;
1.Stick out of part or tool more than 3 times the diameter or cross section will increase the difficulty of machining.
2.The poorer the condition of the machine, and attachments, more time will be required to remove chips, and more difficulty in holding tolerances.
3.The harder the material the more difficult to hold tolerances in a poor machine, but easier in a good machine.
4.Roller steady rests are better than plain, but not as good as a live center, and a live center is not at good as a chuck, so a large through hole head stock lathe is a very good investment.