So, here's a test board I did using vinyl, chilipeppr and my 1watt laser at 400mm/sec... TQFP32 ATMega328P...

The vinyl etch resist before etching.....

And after etching... I could probably do better with the etching, but I was in a hurry.. =)

I'm pretty happy.. I'll do more documenting on how I achieved these results soon...