Depends on the rigidity of your machine, quality of your drill, (I would use non-coated bits on alu. regardless of the bit quality) coolant used, among other things. If It were me, I would start about 1200-1800 rpm, 15-20 IPM, and use an oil based coolant. Usually when I start with something, I make changes during or after the first hole. If your hole is deep, it would be a good idea to set a retract depth. Say every half inch or so. The oil based coolant is of great importance to avoid the aluminum from sticking to the bit. Once it sticks, it's done for---end of story. WD40 works, but not really optimal. If you DO happen to have aluminum brazed into the bit, drilling some steel with a good coolant flow will usually clean it off pretty well. The chip break doesn't really matter all that much, as long as its breaking the chip, so .03-.05 should be fine. With aluminum, I would rather have a bit longer strings than very short ones that would cause the soft chips to seize up in the bit. Not long enough to accumulate around the bit, ending up like a ball of yarn, though. If the strings are to long, turn the feedrate up, or turn the spindle speed down. These figures would be a "in the ballpark" starting point for the machine I use.