Mac:
What Bob says is pretty good advice, especially if you enjoy the process as much as the results. And even if you are trying to get results faster, you can generally get a cleaner cut in multiple passes.
I'm not sure you were asking a complete question, however. Even if you were taking multiple passes, you can come out with a less than optimal result. The feed and speed are as important as multiple passes.
Generally speaking, with a handheld router performing a certain task, you will be able to move the router along the workpiece comfortably at a given feed rate. Different routing tasks will cause your feed rate to very a bit. You should never be moving the router so fast that the bit starts to chatter. If it does, the danger level increases rapidly and the results suffer.
So, with your feed rate a constant, you have to figure out the optimal spindle speed. Sometimes people just crank it up. Though this may work on some species, it won't work on others. Maple, for instance, burns easily and then it's a hassle to clean up if you can within the configuration desired. The burning is caused by the cutter spinning next to the work piece and not really cutting, just spinning and causing heat buildup from friction. Not only is this scarring/marring the work piece, but it is also heating up the cutter and potentially causing premature dulling.
To find an optimal spindle speed, take a practice piece (of the same species and preferably, the same piece) and perform the same kind of cut you are planning for the real work piece. Dial down the spindle speed until it starts to chatter at your normal feed rate. Then increase it slightly until just past where the chattering stops but don't overdo it. You want to be just faster than where it wants to chatter. At this spindle speed for your feed rate, you will get the cleanest cuts and not over heat the bit or the work piece. If your bit is real hot after a cut, you are probably not optimized.
Now you're ready to take on the real work piece. With some practice, you'll get to know the different speeds for various work piece types within an acceptable range and will find that you get real close on your first try.
Anyone who has ever milled plastic will know this in spades. Spinning the bit too fast in plastic will remelt the shavings in a dado and you might have to rout them out again.
Tom