I bought this stuff here: Amazon Chipboard and use the settings found within @jbmanning5’s post here:
The chipboard is supposed to be around the .05" but mine is slightly thicker at .06~". I have liked the results for cutting, but as for engraving, I haven’t tried it yet. I have only recently started using the chipboard, and specifically have only used it to make puzzles with. I’m sure someone can help with some settings regarding that, but trial and error always are gonna be your best friend! For cardstock I use speed: 675 and power: 2, that may be a good start if you’re looking at some light etching.