Are you sure you mean 15 mm ? One complete turn of a slide dial doesn't usually move the slide that much. That's why I asked in terms of percentage of a turn or fractions eg 1/10, 10% etc.
The reason I asked is that sometimes people expect too much in terms of backlash. One turn of yours would move the slide by 0.1" or circa 2.5mm but best stick to inches if that's what you have. In real terms on a lead screw with that pitch and new parts might give you around 0.010in back lash maybe up to 0.015in measure on the scales.Lathes with far more than that are still usable.
The answer to cope with backlash is to always wind into a cut. That way the back lash is taken out. If for some reason you wind in too far wind out say 1/2 a turn or more and then wind in again to the correct setting. If the nut was well worn say 1/2 turn 0.050in backlash then wind out over a turn and then back in again. Even with that amount of play the lathe is still usable but most people would be thinking maybe it's time to change the nut. Problem though – the lead screw will be worn as well – if you do organise a tight nut some how it will be too tight in places.
There isn't much on the web concerning adjusting gib strips on lathes. Best done with the lead screw out or disconnected and the slide pushed by hand. What's wanted is very slight resistance to movement and no binding due to the oil film breaking down. People use all sorts of oil but some have changed to slideway oil and found it to be better – including me but your gearbox oil is probably suitable.
There is a bit here but a bit myford based as are other bits and pieces on the site which is now archived.
**LINK**
If you still don't get a decent finish it would be best to post some photo's including one of the tool you use.
John
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Edited By John W1 on 17/11/2015 18:09:14