Annular cutters don't like chips under the teeth. Once the teeth are started, give firm pressure for a few seconds and a slight pause will break the chips, rinse and repeat while oiling continuously.
Hougen's website gives feed and speed charts that are crazy fast. 1 1/4 at 300 rpm x .001/tooth x 6 teeth= 1.8"/ min, that's 8 seconds to drill through 1/4 steel plate! I hate replacing the broken ones so I go slower than recommended but, going too slow does dull them.