I've had a "Toolset 350" tool setter for a LONG time. I got it to measure and set the CAT40 tools that I use on my Beaver Partsmaster CNC milling machine.
As usual, an eBay 'basket case' purchase that came out well, with the 'totally dead' problem being issues with the external power supply.
It has served me well, but as it is equipped with a female '40' taper is only any good for CAT40 (that I use) or BT40 tooling. Looking at it today, and having spent a little time trying to measure VDI40 tooling for the CNC lathe using a surface plate and height gauge I thought "if only I could use the Toolset 350"
Now when originally sold there were all sorts of adaptors for different tooling styles - actually I don't think that there were any VDI ones - but why not MAKE an adaptor.
So I pulled it's rotating base assembly apart to measure up what would be needed, cleaned it up and repaired a huge 6 mm x 100 mm od O ring and started head scratching.
. . . then it struck me . . can I not machine one of my existing but redundant CAT40 holders to accept the 40 mm shank of a VDI40 lathe tool holder

. . . then in ANOTHER flash of inspiration another thought struck me - isn't 40 mm a standard size for sidelock / Weldon milling cutter shanks - there MUST be an existing CAT40 to 40mm sidelock holder as a commercial item, already nicely ground to be concentric and ready to use.
A quick ebay search found two possible contenders - a brand new BT40 one (which would do as the taper is the same) and a grotty looking CAT40 one, but the CAT40 obviously had a 'library picture' as the 'hole' was nothing like the 40 mm advertised.
The BT40 was rather pricey, so I sent a cheeky offer and meanwhile asked the seller of the CAT40 one to send a picture of the actual item.
A few iterations with Mr BT40 brought the price down significantly, but then Mr CAT40 sent me a picture of a very presentable looking holder at a very acceptable price (£35 including postage). This allowed me to decline Mr BT40's last offer and I await the arrival of the other one.
(The picture of the CAT40 socket has a ruler 'up the spout' at my request as I wanted to be sure that it would take the full depth of a VDI40 spigot)
So theoretically I can mount the VDI40 tool to be measured in the 40 mm sidelock CAT40 holder, fit the CAT40 into the Toolset 350 and measure away to my hearts content knowing that the parts have been made to a good standard of concentricity

I'll keep you posted how it turns out . .