at my first job ,where cast iron and brass were the main materials plus some ali and nickel silver,usual practice was to grind the rake off the cutting edge of a drill known as backing off by all the workers when doing batch work ,for a few off we just used the drill as it was,also no one bothered to back off drills under a 1/4 inch dia. The backing off was always done on a grinding wheel smaller sizes would be done freehand on a T & C grinder using a convenient thin wheel, A stone was never used, all too likely to get a polished but rounded off edge,grinding produced a sharper edge . On cast iron a 3/8 whit tapping drill would last for at least 300/400 hundred holes.On brass,I have seen a casting thrown over 40 feet when it lifted out the jig as the operater failed to back off the drill,of course someone had to chalk a cross on the floor where it landed.Bronze needs some back off as brass does, phosphor bronze has similar characteristics to steel,to cut it needs rake ,and will spral in violently when opening up a smaller drilled hole,its best drilled in one go ,or the work clamped to the drill table and a firm grip on the drill lever,avoid a vice if possible the work can be lifted from the vice jaws or the vice and the work can be lifted and spun. When drilling phosphor bronze in one go there is tendency for the drill to bind in the hole,one way to cure this is to slightly drill the hole off centre,ok it does produce a slightly larger hole but thats better than a broken drill. Neer saw anyone back off a milling cutter ,as milling work is held securely and there is more control on the cutting spindle,one mod to conventional cutters when used on cast iron (Clarkson Deadlock cutters or shell mills) was grind off the sharp point where the cutting helix met the face of the cutter ,about 3/16 would be ground back at 45 degrees on each tooth to give a better finishing cut and a lot longer tool life.