With Vcarving in solid wood and plywood, I have taken to like the setting 90ipm XYZ at 12k rpm with my machine (see sig line for specs). I mainly us a 3/4" wide Freud vbit. It leaves smooth edges that don't require much cleanup. I'd much rather it take a little extra time on the machine than spend time doing hand work. I have ran things as fast as 180ipm in plywood that turned out ok, especially if you've masked the flat part with vinyl and are going to spray paint the carved areas for a rustic look.
2006 PRTalpha 96x48
3hp SEV spindle
Vcarve Pro8
Always eager to consume large amounts of info, tips, and techniques!