I have not tried to double the feed rate. Maybe I should. I just assumed that the faster the lead screw turned, it would leave more raised “strings” since I’m not running the RPM too fast. -John
You're feed rate is attached by gears to the spindle/chuck. If you set your feed rate at 0.002, that's two thousandths per revolution of your work piece. It's directly tied to the turning speed. You can think of it as cutting a very, very, rediculously fine thread. It doesn't matter the speed, whatever speed you're at, you get the same advance on the material, and the same size of the chip, no matter what RPM the spindle is set to. The three variables you're looking at here are the spindle speed, the depth of cut, and the feed rate. Up to the point you run out of horsepower or work piece rigidity, consider all three to be separate variables, independent of one another.
Some mild steel just doesn't cut well. Or it does cut well, but it leaves that finish where it tears at the edge. A lathe file, emery cloth, scotch brite, and similar items are your friend if you're going to work with mild steel. It takes some practice and a little bit of judgement that you can only learn, but can't really be taught, but if you leave half a thousandth to a couple of thousandths, (more if it's real bad), you can file, sand, polish down to dimension in a pretty quick process. Cover the ways and work slow at first. You'll find that the first bit (the worst of the roughness) disappears quite quickly, but as soon as the material begins to smooth, there's more bearing surface, less edges for the abrasive to get a hold of, and the process slows right down to where you've got pretty good control to hit a very tight dimension. Exception being the file. That keeps right on cutting. The abrasives are what slows down as the finish improves. Just measure often and in multiple places, and spend a little extra time on the "big" spots, and you can hit very tight dimensions quickly and easily that way. Maybe not on the first try, but it's a relatively quick learning curve compared to some other things you run into in this hobby.
Depending on what materials you can get your hands on (or justify), often finding a different material might be the most practical solution. But if mild steel comes easily, or cost/benefit analysis says that you can spend some extra time and don't need extended properties beyond mild steel, it's an annoying, yet quick and easy workaround with very low overhead, and will yield good parts. Start by playing with the speed, feed rate, and depth of cut, as well as your cutting tool. Some steels will cut very well when dialed in. Some steels just flat out won't, and require some polishing no matter what you do.. But even if the material just straight up won't cut nicely, the better it comes out, the quicker the sanding process works out. It's not really a hack to have to resort to such things. If you're cutting 1018 for example, there's no shame in falling back to plan B.