Drilling a 17/32 hole @525 RPM gives you a surface speed of about 70 SFM.
I start at 100 SFM at the low end for drilling in aluminum and usually run around 200 SFM.
Gotta keep the chipload above .003/tooth and work up from there to whatever the loadmeter says it can handle.
Peck depth varies, I look at the length of the chips and keep them approximately the same length as the flutes of the drill. Shorter if they don't clear immediately or wrap around the drill at all.
The chips should not go downward at all through a pilot hole, but a pilot hole lets coolant flow through and works well for bigger holes (above 5/8"). I run drills up to 1.250" with no pilot hole in aluminum very often though up to 4" deep in my Minimill.
In aluminum, the drill needs to be sharp and the corners can not be damaged (no flank wear). What happens is that the material mushes away and then binds up farther up on the drill. You will see the aluminum on the OD of the flutes and be able to feel it with a fingernail. You can get around this by sharpening the drill slightly off center so it cuts a little bit oversize. Not as much as you need to do with copper alloys, but just a little. Split points work better in CNC machines too (chisel points are for drill presses, not any machine with a Z axis ballscrew IMHO).
LOTS of coolant and it'll work well.