My first thought is that to achieve the speeds and feeds the OP's Google search produced, you're looking at a big new CNC machine with flood coolant.
With a light hobby lathe like the Myford 7 series, it's a case of adapting the figures to what the machine can physically do. The condition of the slides and headstock bearings can seriously affect metal removing ability – as can the horse-power of the motor.
The amusing article about turning by Michael Oxley in the Christmas issue of ME in the early 1950's is quite relevant here.. It went something like "Twiddle the knobs… twiddle all the knobs in sight…if the metal starts coming off in huge red-hot chunks, ease back a bit…"
So essentially it's up to you to find the limits of your machine (by just going past the limit!) and reducing either the speed or the feed and/or increasing the supply of coolant. And use sharp tools! The DCMT07 tip isn't sharp – it is really much more suitable for BIG machines – say a Colchester Bantam and up. It might be better to try the sharp DCGT07 grade (JB Cutting tools can supply – usual disclaimer). I find that although relatively fragile, they produce really good finishes and I use them a lot, even for materials they aren't' "supposed " to be used for.