TipLap style tool sharpener

[tonyfoale]

olderdan has a soundly designed T&C setup here........
My contribution would be a collet block, 5C and probably 24 stop indexing.

Do you think 5C is better than R8?

I use 5C in my T&C grinder (which I posted here recently) but that was largely because I used a Spin Indexer to rotate the the tool and that comes bored for 5C. However, the 5C has allowed me to do things which I could not have with R8, due to its through hole and larger available holes.
Both R8 and 5C are limited in that they come in discrete inch or metric sizes, which means that you need a multitude of collets to cover a full range of sizes in small steps. Of course that doesn't matter if you only need to hold the main sizes, but it becomes a problem if, like me, you want to hold drill bits in 1/64" and 0.5mm steps as well as a full range of number and letter sizes. For that I use adjustable collets in an ER25 chuck with 5C stem. You could use a normal drill chuck to cover the size range but without a through hole you are forced into large overhangs.
I have a large number of drill bits with a MT1 shank, the 5C allows me to feed them in from the back which I couldn't do with R8. For anything with a MT2 shank I have made a 5C holder with a MT2 taper inside, this usually leaves a lot of overhang but with care it gets the job done.