The proper cutting speed for the majority of ferrous metals is under 300 FPM. The proper cutting speed for the majority of wood cuts is over 3000 FPM. Trying to cut metals on a wood bandsaw--at speeds 10 times faster than they should be--is dangerous and will likely result in a broken blade, damage to the bandsaw, and a really horrible cut.
Cutting wood on a metal bandsaw is possible, but it would be tedious and slow, and likely would not produce a decent quality of cut. In addition, bandsaw blades for cutting wood are designed much differently than bandsaw blades for cutting metal. With that said, there are some soft, non-ferrous metals (such as aluminum) that can be cut at around 1500 FPM (if using the correct blade type).
Although some of our wood bandsaws operate at approximately this same speed, the other components of these saws weren't designed to handle the metal chips and swarf that would be produced by the cut, which would likely result in minor damage to the machine and void the warranty. The bottom line is this: Always buy the right machine for the job!