V. Sharp HSS edge cuts best. As others have said, avoid carbide. Biggest issue is how you hold it. Clamp it in such a way that won’t alter the machined dimensions when you release the clamping force.
It’s just that most carbide inserts are made with a radius on the cutting edge to reduce the risk of chipping. Even the sharpest ones when ground to an edge have a radius because they consist of sintered particles (OK, I know we’re talking microscopic now). HSS can be sharpened to a keener edge because it’s homogeneous. I find sharpness and angles are more more important than hardness for plastics.
I find sharpness is more important than angle, but interestingly a slight negative angle helps control in softer plastics: the cutting edge doesn’t cut until some pressure is applied to the tool. Try it if you have too much ‘bite’ in soft materials.
@MalR, I've been trying to sort out what you're trying to say here. I assume you are speaking of a HSS tool used in a flycutter, right?
In the first quote above, are you referring to the part being held in a vise?
In the second quote, I'm not entirely sure that I agree. An AK insert is ground pretty sharp and it has very positive rake angles. While a HSS tool can be honed sharper than an AK insert, they're pretty close. I've been fly cutting Delrin for a long time with AK inserts and find them to work well for me. I don't cut a lot of PVC, though, so that might make a difference.
In the third quote, can you clarify which angle on the tool is negative? I assume you mean negative side and back rake but am not sure. Negative side and back rake on a HSS tool tends to plough and create a lot of heat, which really impairs finishes but maybe you're speaking of something else being negative?
Not trying to give you any heat here. Just trying to understand what you're saying. My experience with plastics suggests that positive rake tooling with sharp edges, like an AK insert or a good HSS tool, cuts well with slower speeds and higher feeds. I have never had any success with negative rake tooling on plastics, which is why I'm curious.