I've only ever used a small regular wood drill bit, on a drill press for use on costumes as reflectors. I don't know the speed I've never seen a setting to change the speed.
Hope that helps.
I've never drilled a hole in a CD or DVD but on other fragile materials I have use a piece of masking tape to drill through. It works on formica countertops and could ne worth a shot on a CD
They’re made of a thermoplastic that will liquify of it gets too hot. That’s why you want a fast-cutting bit moving slowly. Clean out the shavings often, since they will turn to goop and you’ll have a solid-plastic rod instead of a drill bit pretty quickly.
-Rob
