Martin,
> . . . . does this look as though I might be in the ballpark please?
The link that Simon put up outlines the basics quite well. The trickiest part is grinding the
compound angle that is applied to the top surface of the tool. Your photo shows angle in the direction from your tool's front face towards the rear, but more 'slope' should be applied simultaneously from the edge of the tool facing the chuck across to the edge at the
tailstock side.
When grinding the tool, it is common to get several 'facets' on any of the angled surfaces, when constantly re-applying the tool to the wheel. This doesn't matter too much, but it is important that any facet where it meets the cutting edge, is not diminishing but is at the appropriate angle.
The sharpness of the tool is enhanced by 'stoning' the ground faces, to hone the cutting edges - taking
great care not to round off the cutting edge slightly. This takes quite a lot of practice, as it is too easy to upset the edges inadvertently. If you Google, 'stoning lathe cutting tools', you'll see a number of discussions.
You have a nicely appointed modelling room, but any serious work with the lathe is likely to throw a line of oil etc up the wall behind and over the framed picture.
A roll of corrugated cardboard or packaging from a large kitchen appliance might usefully be temporarily installed behind.
Similarly, grinding lathe tools etc is a messy task and best done not within the house.
A recommended accessory for your grinder is a wheel dressing tool, such as the tee shaped handtool imbedded with industrial diamond. Use of a well dressed (and hopefully balanced) wheel will greatly improve and ease any grinding work - but take the grinder outside first for any wheel dressing.
-Brian McK.