i bought a cheap fly cutter (ebay) and turned the shank down

http://www.ebay.co.uk/itm/Fly-Cutter...item3f0cb22c9d

this one is a bit pricey but its the same as the one i bought... youll have to have a hunt around, RDG might be better (i ended up putting a dcmt insert holder in mine)

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i can skim alli with mine at 60mm (ish) diameter if im carful (my machine is quite rigid though and my spindle will cut at low rpm)
cuts acatal quite well up to 0.5mm without to much trouble

might be worth a ponder