That looks like a nice compact machine.

You could cut wooden clock gears. Clayton Boyer seems to have the most popular plans, but there are also other designers out there. Brian Law and Woodentimes also have good plans.

You could try cutting some lithophanes.

I have a different type of machine. Top speeds are around 120 inches per minute. I have an 800W spindle with a range of 6-24K RPM. I typically cut plywood with a 1/8" router bit between 40-60 IPM at 10-12K RPM. For a clock gear I use 2-3 passes to go through 1/4" plywood. The first passes are .005" oversized and I follow up with a single full depth pass at the final size. You may need to do some experiments to see what your spindle can handle and adjust accordingly. Try cutting shapes in Baltic birch using a range of speeds and feeds. Each machine will have a different sweet spot depending on rigidity and spindle power. A production CNC machine would cut a single pass at 150-200 IPM and 24K RPM.