Technically both #1 & #2 are murder, but only #2 is milling.A few questions:
1. Murder = using nail polish or alcohol + some sort of blade to cut/scrape out an inlay or label? I skimmed a few of the initial pages, and the fastest someone can murder a chip is ~3 min? Has this been beat?
2. Mill = using a drillbit to remove an inlay/label and most likely taking part of the clay poker chip material with it? How quickly can this be done per chip?
I had no idea this could was so time consuming. Those of you with custom sets with your own hands - BRAVO!!
As for time:
#1 can be done faster, but only with a lot of practice and experimentation how to speed things up. Not all chips are equal as far as how easy/difficult to murder this way.
#2 can be done by hand with a drill press or with a CNC mill. Most would do this with a drill press & a flat bottom drill bit. Once you have your jig set up, you can go pretty fast...maybe 30 sec/chip. If you are only doing them for yourself then spending an hour or so making and setting up a jig is going to add a lot of extra time to your average time/chip
#1 is more appropriate for most chips that already have an inlay.
#2 would be done to hot stamped chips or in some cases to chips that #1 does not give acceptable results. Examples could be shaped inlays or RHC chips with inlays that are smaller than the desired replacement size