You seem to be ticking all the right boxes with coolant and tooling, I think the material may be wrong. These threads always seem to benefit in more than one way. I had no idea that MGMN inserts were available in H01 grades, now I have a box of Korloy MGMN 300-M H01 on order and a box of cheap Chinese MGMN 200-G H01, thanks to Jason B's post.