I'd use HSS steel and grind to a high positive rake, since chip flow is the typical priority when turning soft gummy materials. And, unless you are turning some 2" diameter solid round (or larger $$ $$), on a typical lathe you might have a hard time overspeeding, so just run it fast and feed it at such a rate as to give the required surface roughness.
A high positive rake tool may also curl the chips into a coil so you can find every last particle, as well
First you get good, then you get fast. Then grouchiness sets in.
(Note: The opinions expressed in this post are my own and are not necessarily those of CNCzone and its management)