So, just to bring some facts into this topic.
Yes, you can do it, and the results are usable.
When I initially tried this on my Proxxon MF70, the big problem was getting the height optimized: You're trying to remove 35µm on top of 1 millimeter of fiber-glass substrate with a very generous thickness tolerance.
Usually you would blunt your bit carving fiberglass in one part of the PCB and not get all the way through the copper on other parts.
I came up with the "probing" step you see in the video, (my original post is at
http://phk.freebsd.dk/CncPcb/) which calibrates the thickness of the PCB into the G-code.
With a good all-metal CNC, like the MF70, that will get you down to feature-sizes in 5mil range if you really work at it.
As a bonus, you can drill your holes automatically and precisly, and route the board out in any shape you care for.
Double-sided boards require a bit of planning, but if you are going to make mounting-holes in the PCB anyway, they can be used for registration.
However...
While it works fine for small PCBs, larger PCB's are trouble.
The copper on PCB's are often under tension, and as you route it into small pieces the substrate will bend upwards and the Z-calibraiton becomes useless. Then you find out that you need a vacuum table for your CNC, and now you need another shop-vac, one for the dust and one for the vacuum table and...
It also takes a lot of time to get a good result, routing a 1980'ies level complexity 10x16 eurocard will take you a significant fraction of a day.
And if you use fine-pitch components, you will *really* come to appreciate how cheap soldermask is, for the value it adds.
Finally, the absolute critical quality for the CNC is the Z-axis resolution and stability, and a lot of home-built CNC's have neither.
But there is a LOT of satisfaction in going from idea to PCB in the same day, and I still do it when that is the urge.
But most of the time, I wait for the PCB's to arrive in the post, if nothing else then for the solder-mask.
/phk