Thanks BB, yes the caps do have oiler points in them, but I think I will still go ahead with sealed bearings all round.
Sealed bearings are the only way to go, but you still have to use the domed shielding washers on the reel shaft prior to slipping shielded bearings on.
The oiler points are basically redundant and as previously mentioned, they were removed from the castings in the late 1970's.
Cheers,
BB.