Christopher,
Re the inserts for aluminium. The main difference is that the surface is polished smooth instead of being just the sintered rough finish. Aluminium has a habit of welding itself to the cutting tool tip, this effectively makes the tool blunt till it is scraped off. The rough surface of **M* inserts makes it happen a lot faster than the smooth surface of the **G* inserts. The **G* inserts can be used on ferrous materials and may produce a better finish as they can be sharper.
I would still keep using the **M* inserts for general ferrous turning as they are cheaper, keep the **G* for finish cuts and Aluminium.
I did not see it mentioned in the thread, but EN specifications are the "old fashioned" names. You may also see the steel quoted as.
Free cutting EN1A = 230M07
Leaded free cutting EN1APb = 230M07Pb
Mild Steel EN3b = 070M20
There are lots of others, this is a good intro then just to scare you the European BS EN
Adrian