I should probably mention I use the for routing wood the machine is 24 x 48 my normal feed rate in hard wood is around 50 ipm and a max cut depth of around 1/8 inch. I know the feed rate is controlled in my G-Code file. The motor tuning has some affect on this does it not?
Norm
My machine is very similar to yours, but I have a Xylotex drive. Same screws, and about the same size. On my dual driven X axis, my motor tuning is set to 150 ipm. I think the accel is about 9 or 10. My Y axis (along the gantry) is set to 185 ipm, same accel. With a G540, depending on voltage, you should be able to go a bit faster.
I do my cutting, with 1/4" bits, between 125 and 150 ipm, at about 12,000 rpm, with about the same depth of cut as you, 1/8". A general rule of thumb when cutting wood, is to cut as fast as you can, as long as you still maintain an acceptable cut quality. At my day job, on a big commercial router, we routinely cut hardwood at 400ipm. I should be getting a new job Monday, where they have a router capable of much higher speeds than that. Probably 1000 ipm.

When you're cutting a bit faster than the 50ipm you're using, you'll see that acceleration is very important. I traded a bit of top speed for faster acceleration, which allows me to get sharper corners in CV mode.