I've actually got a headstock lubrication screw on my Mark 1 Myford S7B and all this malarkey about springs and tape and whatever are about as useful as an ashtray on a motor bike. My next trick to stop spraying high bollock oil from everywhere except where it was designed is to 'tin' the screw and the brass feed tube.
I did the same sort of thing with an old feed screw and nut on a Pools Major lathe( I doubt that anyone has even heard of one) but it worked. On some weary Myford in the past, I couldn't do this because it was Chinese alloy and I nipped it--------very, VERY carefully.
Hope this is constructive rather than reading things from regurgitating something which someone read about
Regards
N