This study focused on the effect of drilling parameters such as helix angle, spindle speed and feed rate on surface roughness, flank wear and acceleration of drill vibration velocity. Using design of experiments, 18 experiments were conducted on AISI 304 steel with carbide twist drill bits. A laser Doppler vibrometer was used for online acquisition of cutter vibration data in the form of acousto optic emission signals. A fast Fourier transformer was used to convert the time domain signals into frequency domain. Response surface methodology was used to identify significant parameters in the analysis of surface roughness, flank wear and acceleration of drill vibration velocity. A multi response surface optimization technique was used to find out optimum drilling parameters. Helix angle of 25°, feed rate of 10 mm and spindle speed of 750 r/min were found to be optimum cutting parameters for minimization of surface roughness, flank wear and acceleration of vibration velocity.