303 Stainless Turning--Speeds/Feeds?

I'm turning a set of stand-offs for a vintage automotive luggage rack out of 303 SS. The stand-offs are 1.25" Diameter turned down to 0.625" diameter. I'm using an AXA-16 carbide holder with Terra Carbide 22-100-047 | TPG321 APC5T 60° Coated Triangle / Indexable Carbide Turning Insert.

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I'm getting decent results, but things seem happiest taking a 0.020" deep cut at the slowest turning and feed speed on my Logan lathe. I've heard that carbide likes to take a deep cut, so I tried deeper and faster cuts, but it just generates a lot of smoke and heat and long stringy chips. At the slower shallower cuts, I alternate between getting C-shaped chips and 2-4 inch strings. Should I just go with what seems to work? I tried steel cutting fluid and the blue water-based soap-like lube (Anchor Lube?)--both stunk to high heaven. Without any lube and cutting slowly with a 0.020" depth of cut things get warm but don't stink.
 
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My CA16 tool holder has a 5 degree side rake and no lead angle, that is why they call it a positive rake holder; and it faces square.

I went and dug out my AXA-16 and you're right - it has a 5 degree side rake. I stand corrected, again. I don't use this tool much because I prefer the geometry of an SCLCR tool but I have admit that if you gotta' hog stuff off, its hard to beat.
 
Here's the tool in its holder. I finished the other two standoffs. I did try both the uncoated as well as faster feed and speed. Neither worked as well for me as the 0.020" depth and slow feed.
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