I printed and laminated a spreadsheet showing the RPM and cutting speed in SFM of common tool diameters for the six belt positions on my Clausing. Its designer chose 180, 350, 600, 1000, 1900 and 3250 RPM.
It's usually at 600 RPM which is slow enough to cut mild steel with up to 1/2" tools and not too inconveniently low for shallow holes with small bits. 180 RPM allows flycutting cast iron and hole saws up to 2" (with the belt loosened), 3250 RPM is good for milling narrow slots in aluminum. S&D drills from 9/16" to 1" run at 350 RPM. It's a real 700 Lb milling machine but I use it mostly for drilling.
--jsw