Your tool sweeps out about 0.67 metres per revolution. I found a reference which mentions PCD as being able to cut aluminum at 5000 m/min, so I think your cutting speed limit is probably how fast your machine can run.
However I suggest great caution. You have statically balanced your tool but dynamic balance is likely to be a whole different thing. If you have a 32mm hole your bar must be fairly big and heavy. It could create a lot of mayhem if it comes loose at a high speed. Personally I would not spin a tool like that faster than about 1000 rpm and even then I would be very nervous about the polycarbonate windows keeping it inside the machine if things went wrong.
An open mind is a virtue...so long as all the common sense has not leaked out.