This came up recently. This was my responce:
The rake angle of cutters used on metal is usually pretty close to 90, which makes a strong well supported edge and helps roll the chip into curls. It also tends to lift and splinter wood before the actual cutting edge is engaged in the cut, requiring very shallow cuts so the wood chip is flexible enough to roll out of the way.
So you either need to generate a very thin chip, like the teeth on a saw blade do, or you need a chisel ground cutting edge, which would fail quickly in metal, so you won't find an off the shelf tool.
Generaly I don't like fly cutters, their single cutting edge requires slow feed rates, but that is what I use for this.
Notice the moderate relief angle and very aggressive rake angle. That is ground sharp enough to shave hair and has a polished edge, which prevents splintering. Bit of a radius at the tip.
I trued up the sides, flattened and thinned down about 20 sets of Osage orange scales with that cutter a few days ago without needing to resharpen it. I don't run it up real high because I don't want sawdust all over my metal shop, but generally the faster you turn it, the faster you can feed it. I only shave about .020-.030 per pass to prevent splintering. I've used it on several types of wood and it works well on most everything, though I've never tried it on something with grain like oak.[/QUOTE]