I was told that with the myford oilers you should be just getting bored waiting for the next drip and then there it goes!
Mine tremendously over oil. I usually am on the lathe long enough in one go for the oilers to almost empty.
As for the thread cutting, there are charts which will help you out on google that you can print off for the workshop wall. Don't forget the material you are cutting will have a bearing on things too.