Darren,
I have drilled an incredible number of pen blanks of a huge range of timbers,two timbers stand out as difficult,Snakewood and Ebony.
I only make Slimline,my drill press has never been speed changed,gets switched on with a 1 hp motor and I drill hundreds with one 7mm drill,at 5.60 a drill regard that as fantastic economy.
Having said that I vary the number of withdrawals during the process to suit the feel of the timber,I submit that experience is important in all things,if you start varying the speeds etc the number of physical memory or recorded exercises to prove or disprove a theory certainly take away the spontaneous process that I use.One day when I find my rev counter I will measure the speed that is quite fast.
To be safe only drill a small amount then raise the drill to clear the swarf. My reject rate is one in a hundred or so mostly when I misjudge the centre,my fault not the drilling.I mostly cut the blanks to suit the grain shape and colour so they often are irregular in shape.
Have fun Peter