I have a wood lathe that requires oiling every so often. I use an eye dropper to get the oil where it need to go and have found that 3 drips is enough for a days turning. The bearings have only been adjusted once in all the years I have owned the machine. Even then it was just a minor adjustment. Keeping the machine clean and regular checks and servicing has kept it in a good state for the work I use it for.
By using a dropper in the little cup I do not have to fiddle with an oiler that needs stopping when not using it (to prevent puddles under the machine) and then adjusting it when it is needed
I have used it on a very regular intervals so it is not that it sits for long periods of time doing nothing, maybe lately while working on the projects I have on the go in metal has it only had little use