I use the spindle and a laser controller. They share the same PWM port. While I have the capability, I rarely use the laser power control. I many vary the feed speeds to get the desired effect - Slow gives more power / fast gives less.
I have two toggle switches on my machine. One to turn on the spindle and one to turn on the laser. I only turn on the one that I am using at the time. I don't have a reason to have them working in the same program. I use the same profile in M4 for both of these.
I have also rewritten my CAM post processor to take out all of those pesky Z axis moves so it does not defocus my laser while I am running a G code file for the laser.
I love the laser. I purchased one from L-Cheapo - 3W. It is solid state and will cut (thin stuff) or burn (cutting boards etc). I have not bought a gift in quite a while

They have a new 10W solid state laser that will cut thin stuff. I may have to give myself this for X-mas.