I have carved and cut parts out of ipe. I have also carved mesquite, osage orange (bois de arc)and pecan. All are very hard and all carve well. The better the quality setting the slower the feed rate and less sanding.
I could not testify to the paint. I would think the acetone and epoxy paint would be a for sure. Most commercial sign companies use the epoxy paint on HDU foam signs.
Brent
A,B machines, PE,probe,conforming vectors, centerline, 2d,3d,stl and dfx imprt, rotary , 3.xx, Pattern Sculptor
OS X Yosemite
Woodwork is what I do to pay for my tool addiction.