Abstract: The invention provides a toolholder assembly including a body and a nest that is suitable for holding an insert. The nest includes a notch and the body includes a support and protrusion that cooperates with the notch to permit indexing of the nest relative to the support. In one embodiment, the support includes a bias device, such as a spring, that at least partially biases the nest toward the support and an adjustment device that can at least partially counter the bias device. The invention is also directed to a toolholder assembly that additionally includes an insert and a clamp. The invention further contemplates a method for forming the assembly and a method for adjusting or indexing the orientation of the nest.

Abstract: A milling cutter includes a generally cylindrical body whose outer periphery is formed with angularly spaced pockets capable of accepting indexable cutting inserts of various cutting geometrical shapes, such as inserts having octagonal, square or round cutting geometry's and a different seating geometry, such as a generally round seating geometry. This is accomplished by each insert including a generally frustconical transition face extending between the clearance or faceted faces and the rear face of the insert. This transition face provides a transition area between the various cutting geometry's and the generally round seating geometry.