I just remembered I recently machined some vanes for a nitrogen powered motor, similar to a die grinder or typical air motor. All millwork. This stuff was very dense, and lots of dust, but the shop vac did the job. I would guess that since it isn't a HEPA filter, it didn't get it all, but I didn't notice any real bad mess.
I cut it all with carbide end mills, running wide open. With my mill, that's 2600 RPM I believe. The material came to me in sheet form, and I believe it must have been the die grade that Pierre mentioned. I wouldn't mind running more of it. It was customer furnished, so I didn't get the specifics on it.
Cutting speed should be around 1000 sfm and around 800 for hard graphite.