Thanks Chris.
I've managed to dig up some more info since my original posting.
First off I managed to order some almost correct felt as 5mm diameter cord from Hardy and Hanson. It's the right material but the grade is harder (s44) than would be perfect – s36 seems to be a match for the American F-1 grade.
Secondly I think that my oil cups are still available from Adams Lube in Coventry. Judging by the size I think they are 'BS1512 shoulder drive oil cup 3/16 inch hole' but without taking mine out I can't be 100% sure of the size. I contacted Adams and was advised that they are recommended to be used with nothing in the oil flow.
So I think that the oilers probably left the factory without any felt in them.
It remains to be seen whether this will produce a reasonable oil flow on my lathe. It's in bits just now. If it proves excessive then I will experiment with the felt and also consider fitting different lubricators altogether.
Looking at the photos on Cowells site they still use very similar cups but there is an extra 'thing' between the cup and the top of the bearing casting. Does anyone know what this 'thing' is? I can guess but does anyone know? My cups are fitted straight into holes in the bearing casting.