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We ran thousands and thousands of Phoenolic parts about 5 years ago. The material was per Mil-P-15035. I checked and we were running:
Drilling around 250 SFM and .001 chip load on a .189 drill. Seems conservative, but we were running unattended pallets and reaming final size trying to hold good true position. These were carbide drills.
I think you could go close to Max RPM with .001/.0015 IPM on the drills you mentioned.
Facemills were running between 1500 and 4500 SFM (3" Face Mill at 6000 RPM) These were fairly light axial DOC and I think the lower SFM was cuts where the radial DOC was bigger (ie full width of cut)
+1 on the vacuum. I bought a BIG Niederman Filter Box Dust Collection System for the job. But like I said it ran for over a year and I could justify it. The guys had a big sign up over the machine that said "Welcome to Phoenolic City"
We set the dust collector up to suck across the fixture and mounted a spray mist nozzle hooked to an airline to the head on the machine. to just spray enough air on the cutter to clear the powder from the cutter. Blowing large abounts of air seemed to get the Sh@# airborne and didnt seem to provide any significant cooling effect as we could tell.
Hope something in there helps.
Oh one last thing ....
VO5 ... the shampoo . Youl need lots of it to wash that crap out of that mane of yours
CAM