Hi Ruaidhrí
Try this for starters,
Set the block of FCMS true across the lathe and approximately at centre height. Make sure all is secure. A strip of normal A4 typing paper between the vice and the work often improves grip on the work..
Set your 1/2″ cutter in the collet. Make sure your drawbar is in place and that there is daylight between the backface of the closing nut and the body of the Autolock. Nip it up tight, but no need to flog it tight with a hammer!
Set the cross slide so the work is between you and the cutter, then advance the carriage until the cutter will take between 1/16″ and 3/32″ cut.
Now lock off the carriage. Disengage the leadscrew drive and engage the claspnut (If you have a handwheel on your leadscrew you can use the to apply subsequent cuts, very useful. Also use the nut that pinches down on the bed to lock things up while you are milling.
Set your lathe to bottom speed direct drive ( not backgear).
Put your safety glasses on, check the spindle is clear to revolve and start up the lathe.
Cautiously advance the work towards the revolving cutter. Listen and watch progress carefully. As long as the noise sounds ok and the swarf is coming off cleanly carry on until the entire cutter clears the work leaving a shallow slot in the steel.
The swarf should be bright and shiny, not blue. If the swarf is coming off blue then stop at once. You will neeed to reduce the speed of the cutter.
I am aware that these shallow cuts are unkind to the corners of the teeth on your cutter, but the poor rigidity of the set up means that you cannot drive the cutters hard. As others have pointed out, a small chamfer on the corners of your cutter will greatly increase its life especially if you are using it for facing work.
As you gain experience you can experiment with different speeds and feeds, but remember, the speeds and feeds quoted by cutter manufacturers are for industrial production on massively rigid machines and that these figures maximise the rate of metal removal at the expense of tool life (After all, they are trying to sell cutters!)
Your rippa should be OK for this job, but I would choose a four flute end mill as I don’t need to plunge it into the work. You won’t cut an accurate half inch slot this way. If you want to do this then start with a smaller diameter cutter in the middle of the slot. Then when the slot is almost to full depth machine first one side and then the other to dimension. Remember always to advance the work towards the cutter tooth.
You mention woodworking, just think about the rules for feeding a router around a piece of wood, its the same for milling. Trying things the other way (Climb milling) is not suitable for the type of setup you describe.
Bob