IMHO, for open gears there is a better solution. A GL3 grease from Lubriplate called GearShield. That stuff stays put and makes the gear train whisper quiet. That said, as long as you have a way (like a cover) to prevent swarf from getting on the gears, grease is the best answer.
I bought some of the GearShield in the caulking tube for an old enclosed, but unsealed Walker Turner gearbox. It works well. Then I lubed up the gears on my G4003 (both the quick change and open drive gears) with this stuff. The lathe became smoother and is noticably quieter. Once the stuff distributed itself, there has been no slinging.
I bought may tube of this stuff locally and it's a bit tricky to find online but here is one place that has it...
http://www.shamrocksupply.com/itemDetailFilterPH.action?RFP=IFD&IDP=Y&codeId=9102072
John
I bought some of the GearShield in the caulking tube for an old enclosed, but unsealed Walker Turner gearbox. It works well. Then I lubed up the gears on my G4003 (both the quick change and open drive gears) with this stuff. The lathe became smoother and is noticably quieter. Once the stuff distributed itself, there has been no slinging.
I bought may tube of this stuff locally and it's a bit tricky to find online but here is one place that has it...
http://www.shamrocksupply.com/itemDetailFilterPH.action?RFP=IFD&IDP=Y&codeId=9102072
John