If you have more than 0.010" of backlash in either crank, you can try to adjust that lower. But even with new feed screws and nuts, you aren't going to get it under about 0.010".
On both the cross slide feed and compound feed, there is a special hex nut that retains the crank, and between the crank and dial, a lock nut and star lock washer. Adjusting the lock nut on the cross slide is best done with the cross slide run completely off of the cross feed screw. Find a thin enough open end wrench that fits onto the lock nut without jamming between the crank and dial. And a box end wrench for the crank nut. Immobilize the crank and loosen the crank nut slightly. With the thin open end wrench, tighten the lock nut one flat. Still without moving the crank, tighten the crank nut. Turn the crank and see how it feels. It shouldn't spin but should take virtually no effort to turn. Repeat until there is a noticeable drag when turning the crank a few degrees. Back the lock nut out 1/2 a flat. Re-engage the feed nut and feed screw and check back lash with the dial. That's as good as it is going to get.
Robert D.