The trick (IMO) to machining titanium is to use the proper feeds and speeds. Here in our shop we machine titanium everyday, castings and solid stock. We have experimented with many different tools and oils etc. For drilling, I have found that cobalt drills work better than solid carbide, because they don't chip, unless you go to an inserted indexable drill, preferably with thru spindle coolant. For milling, carbide is definitely the way to go. I run cobalt drills at 40 surface feet at .001-.002 feed per revolution, and carbide endmills at 125 SF at about .001-.002 feed per tooth. I have found that at these surface speeds, you can run all day long with minimal problems, once you try bumping up the speeds even a little, you will most likely spend all day changing out tooling. As for threading, single point threading is the ideal way for cutting threads, but tapping and dies are going to be challenging and a pain pretty much regardless of what you use. A good quality tap (IE, Emuge taps) work real wel, but are priceyl, and Greenfield dies are good quality too.
Jason