I also posted this on cnczone but I'll repost here for those that don't participate there.
I have a G0704 with a 1100W motor on it. I ran it at 4500 rpm for a few years and then bumped it up to 6750 rpm last year. I generally shoot for a MRR of 1.3in/min. I use high quality HSS end mills because they are cheap and these machines don't have the rigidity to use carbide efficiently.
My go to parameters are:
3/8" 2 flute YG-1 aluminum end mill
Speed: 6000 rpm
DOC: .500"
WOC: .05"
Feed: 54 IPM
My general rules for HSM in aluminum are to use full depth, 10-20% WOC, 1-2% feed per tooth. If I need to reduce DOC I increase WOC up to 20%, then I start adding feed. I wish someone made a 3/8" 3 flute in HSS. That would be my next step.
All of this assumes that you have a coolant system of some sort. I use a home brew mist system.
I have used 3/8" 3F carbide end mills in the past. They worked great but cost about 3X what the 3/8" 2F HSS end mills do. I decided that for my needs it wasn't worth the extra expense.
Good luck,
Chris