It strikes me that, with a bit of grinding wizardry, one should be able to produce a single HSS tool that would incorporate both facing and chamfering capabilities.

I've already made a rhombus-shaped tip chamfering tool that has three chamfering surfaces. This allows me to use the two forward facing surfaces for left or right side chamfering and the side facing surface for chamfering the ID of holes - all without having to rotate the tool. The vertices on this tool are never used for cutting so it's not inconceivable that they could be reground to act as facing tools.

Thanks for kick-starting my creative engine with your idea.