Although the ISO 32 / ISO 68 equivalent pairing was made 70 odd years ago its still perfectly relevant today. Viscosity, and its variation with temperature, essentially defines all the major parameters of oil behaviour. If something was designed and made to work correctly with ISO32 70 years ago then ISO 32 is what it needs today. That pair was, and is, a very common choice for machine tools. Development over the years has considerably improved the efficiency of lubrication in the machine tool environment and correspondingly reduced wear but if the machine still works best with the viscosity it was designed for. Not something probably inappropriate chosen just because one aspect of its behaviour looks good or is considered sexy by the puditaria.
If you seriously want to change the oil you also need to re-work the design to make best use of the properties of the new oil. Which may not be easy. In particular the effects of oil film thickness and shear rate on drag and lubrication / wear properties need to be quantified if any real benefit is to result. Modern car engines are an excellent example of the problems involved. These days oils are almost specific spare parts for each model. Heck even the same engine from the same factory may have different oils specified for different vehicles. Upside is extended oil change intervals and 200,000 mile plus engine life. Downside is serious wear if the wrong oil is used.
The main reason for oil all over the place on a machine tool is over-lubrication. At times I'm as guilty as anyone. Geo. H. Thomas who remarked on this concerning folks complaining about handing dirty, oily change wheels saying:-
"The amount of sliding movement of one tooth on the next is very small indeed and the duty light so so there is no need to smother them in grease or bathe them in oil. …. will leave you with hands like the village blacksmith. My gears … they have only a thin oily film on them which is perfectly adequate for the duty performed and seems to stay there almost indefinitely." (ref "Dividing & Graduating, 1989 reprint, p23)
The stringing of ISO 68 between gears is merely observational proof of transfer down the gear train. Drip a little on the top gear and what it stringing down to the lowest one. Maybe little fling off into the tray if the drips were more splot but you will be good for the next year or so.
Similarly with headstock bearings. The SouthBend 9" is justly renowned for the long life of its simple direct in the casting headstock bearings yet these are simply fed by a wick wiper from small reservoirs. Actual oil consumption is tiny, mine used to see an oil can about once every 6 months.
One place where over-lubrication is probably beneficial is on the bed. I periodically squirt clean oil on, rub with a clean rag or pair towel and wipe off to remove any residues long before they have got to the gone off varnish stage. Do a similar wipe off before lubricating the cross and top slide ways. Tailstock too.
Clive.
{Poxy spell un-corrector!}
Edited By Clive Foster on 21/11/2017 14:23:31
Edited By Clive Foster on 21/11/2017 14:24:17
Edited By Clive Foster on 21/11/2017 14:26:03