A method and apparatus for machining a workpiece to perform several functions including sensing tool wear, enhancing tool life, tool wear compensation, cutting a workpiece having two different materials joined at a boundry, and suppressing chatter, including placing a cutting tool having a rake face and a clearance face with a first clearance angle with respect to a workpiece and a second clearance face with a second clearance angle with respect thereto and with the first clearance angle being less than the second clearance angle and supporting the cutting tool in a rotatable tool holder having an axis of rotation with the cutting tool tip being aligned with the axis of rotation such that rotation of the holder varies the cutting tool geometry to perform the several functions.