I use speeds of 4-5 with PC/4".
With the currently available products (e.g., M105) and pads (e.g., PFW), that's plenty fast enough. Even with older-tech compounds that need to break down in a big way (e.g., 1Z Pasta Intensiv), that speed is sufficient. It's different with small vs. large pads...the old rule of "use speed 6 for correction" doesn't always apply.
I'd take it a little easy with the pressure too...we're not rewriting the laws of physics here and it's certainly possible to overdo things. When I had my "oops!" on the MPV it was with the PC and a 4" green Cyclo polishing pad (not too aggressive) and 3M PI-III RC 05933 (again, not very aggressive stuff), at speed 4.5 IIRC. I did apply a bit too much pressure and I'm sure that contributed a lot to the "oops" happening so easily (and no, that's not the word I used at the time

).
I've taken out serious defects on hard clear without high speeds or excessive pressure. For that matter, even being fairly reasonable, I've gone too far

with PC/3.5" PFW...and that was on an Audi too.
Gee...after decades of doing this stuff safely with machines like this I messed up the clear on two vehicles with the PC and small pads. Heh heh, as they say...that's a clue.
I wish I could remember where I got my little PC backing plates...they've held up fine for years and years. What about ones made for the Cyclo? The thread size is the same and while you need to wrestle the velcro-topped rubber boots on I've *NEVER* had an issue with Cyclo backing plates in the 20-some years I've used them.