"Don't get hung up on number of flutes"????
That's not strictly true when using end mills or other multi tooth cutters. The feed in feet/inches/metres etc per minute equals the feed per tooth per revolution multiplied by the number of teeth. So the speed of spindle needs to be such that you can achieve the feed rate which is both safe and efficient.
Steve 40 fpm for cast iron, and 70fpm for mild steel is very low even for HSS tooling. For example cast iron should be roughed at around 170fpm and finished at around 250fpm. Mild steel at 100 and 150fpm respectively.
Carbide tipped tooling substantially increases all of the above such as 200 to 350 surface feet per minute.
Of course all of the above assumes machinery in good condition, tools ground correctly, machinery with sufficient rigidity to allow the speeds refered to.