If the Leadscrew is Imperial pitch, for Imperial threads, it does not matter whether you use the 120, or the 127 as an Idle.
Ditto, if the Ladscrew is Metric.pitch.
BUT
If the Leadscrew is Imperial pitch and you wish to cut a Metric thread, then you will need to drive
Mandrel /Tumbler reverse to 120T / 127T to Gearbox Say 8 tpi, so 3.175 mm x 120/127 = 3
If the Leadscrew is Metric and you wish to cut an Imperial thread,
Mandrel/Tumbler Reverse to 127, 120T to Gearbox 3 x 127 / 120 + 3.175 mm ( 0.125 = 8 tpi )
In each case the Driver and Driven gears need to be chosen to suit the ratio chosen in the Norton gearbox, for the required thread pitch.
HTH
Howard