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I've only recently begun turning on my lathe, and found that I needed a way to get my work off of my faceplate.  I don't have a chuck just yet, and like the security of faceplates so I'm not in too big of a hurry to drop $2-400 on a quality chuck.  But I found that I need a way to get my piece of wood off of my lathe.  After spending a few hours researching the tool for the job, I saw many recommendations for this tool.  Up until this point I have been using a hacksaw to get my piece parted off.  This isn't really ideal though, as it's a good idea to make the bottom concave just a bit so it will sit straight and not roll around.

I've now used this parting tool several times, and love using it.  I can get that concave base with it, and its very thin too.  I don't lose much wood at all using it.  It will heat up since it is thin, so I have needed to cool it down a little after a few inches.  But that is expected with as tough and thin as this piece is.  Overall, this is a great tool, and I would recommend it to anyone.