There is no need to adjust a taper roller bearing on your live centre such as is shown in the picture as it will automatically take up the slack when you turn the head stock hand wheel . Use a light oil mixed in some general bearing grease you'd use to repack a vehicle wheel bearing in the grease nipple.
The live centre should barely have any drag on it when correctly set up and lubricated .
What you will need to do is keep checking the " un powered still work piece with the lathe turned off and reset the hand wheel for the work piece heats up due to the friction and shearing when you are turning off metal .
This will cause the worked piece to expand, aluminium and copper are the biggest rogues for this . The expanding metal puts a lot of pressure on not only the live centre bearing but also on the lathe head sock bearing. n
:nono: Not so long ago I had forgotten to adjust my dead tail stock centre , the expansion became so much that it stopped the lathe as the expansion put so much pressure / braking force on the centre & the lathe head stock bearings .
Because of this expansion of metal problem I've taken to slipping the hot / warm aluminium work pieces into a plastic bucket of cold water to cool them down , then dry them off and check my measurements whilst they are stone cold.
Now, if you had a pumped coolant system the expansion problem would be much reduced ...
:rofl: I'm dreaming of making one from a cheap small garden pond pump and a simple plunger spindle by pass " T " valve I have out in my garage