This article reports an extended investigation into the precision hard turning of AISI 4340 alloy steel when machined by two different types of inserts: wiper nose and conventional round nose. It provides a closer look at previously published work and aims at determining the optimal process parameters for simultaneously minimizing surface roughness and maximizing productivity. In the mathematical models developed by the authors, surface roughness at different cutting speeds, depths of cut and feed rates is treated as the objective function. Three robust multi-objective techniques, (1) multi-objective genetic algorithm (MOGA), (2) multi-objective Pareto search algorithm (MOPSA) and (3) multi-objective emperor penguin colony algorithm (MOEPCA), were used to determine the optimal turning parameters when either the wiper or the conventional insert is used, and the results were experimentally validated. To investigate the practicality of the optimization algorithms, two turning scenarios were used. These were the machining of the combustion chamber of a gun barrel, first with an average roughness (Ra) of 0.4 µm and then with 0.8 µm, under conditions of high productivity. In terms of the simultaneous achievement of both high surface quality and productivity in precision hard turning of AISI 4340 alloy steel, this work illustrates that MOPSA provides the best optimal solution for the wiper insert case, and MOEPCA results are the best for the conventional insert. Furthermore, the results extracted from Pareto front plots show that the wiper insert is capable of successfully meeting both the requirements of Ra values of 0.4 µm and 0.8 µm and high productivity. However, the conventional insert could not meet the 0.4 µm Ra requirement; the recorded global minimum was Ra = 0.454 µm, which reveals the superiority of the wiper compared to the conventional insert.