You will also ruin a rotary vane, oil filled pump if you do this and also risk contaminating your resin with vacuum pump oil!
A rotary vane oil filled pump is made to be started and stopped with no load at all. Starting it against a vacuum will cause premature failure of the flexible coupler that connect the motor to the actual pump mechanism. If it is shut down under load, it will cause it to spit oil on the next start up. Then, depending on your pump, if you do not have a check valve, the vacuum in the chamber will suck the oil out of the pump and your resin will become contaminated. I know this for a fact as I have seen it myself and even replaced some resins for a customer who had this happen.
Oil filled rotary vane pumps are made to run as long as you need them to. I have never worried about running mine non stop until the bubbles stop coming from the wood, even if that is 8-10 hours.
You are correct that after all the air has left the wood, the vacuum will not get any better. However, by that time, there is not need to keep pulling vacuum and it is time to release and come back to atmosphere!
All I know is I can put blanks in a chamber and pull vacuum for an hour and still have bubbles coming out of the wood. If I close a valve and isolate the chamber so that vac is no longer being pulled, the bubbling will stop almost immediately and the vac level on the gauge will remain the same at full vac according to the gauge. As soon as I open the valve and start pulling again, they blanks will start bubbling again.
If you are going to be stabilizing and want the best results, you do NOT want to hold vacuum. You need the pump running so that it continues to evacuate air from the chamber and the wood. Think of it this way...put a straw in a coke and suck on it. As long as you continue to suck on it, the coke continues to flow into your mouth. If you suck the coke up the straw to the top just before it get to your mouth and hold it, the coke stops flowing. The same thing happens int he wood.
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The deeper the vacuum, the more air you get out of the wood and thus, the more resin you get back into the wood.
But after all the air has left the wood, the vacuum won't get any better. If you have a switch set for a certain level of vacuum, the pump will run until it hits that level, and then will turn off. If more air seeps out of the wood, the vacuum level will drop, the pump will turn on and evacuate it, the vacuum will rise, and the pump will turn off. This would be great for putting a bunch of blanks into a chamber overnight - rather than letting the pump run all night, it could turn off when full vacuum is reached, and maintain that level throughout the night without running continuously.