Chipboard is a heavy cardstock, and it suitable for engraving, etching, and cutting on the Zing 24. The stuff lying around Ithaca Generator is fairly thin, and doesn't take a lot of laser power to cut.
Buddha did some experimentation for vector etching, and found the following settings worked well for vector cutting
Vector etching proved difficult because of the thinness of the material. It took very low power settings to be able to etch instead of cut.