I picked up this watchmaker's lathe, an old English IME. It's my first lathe of any description, and I could use some basic pointers regarding cleaning, and whether the spindle play in the clip below is normal, or whether I should tighten it up, or whathaveyou.
Anyhoo, here's the IME:
Here's the spindle moving in and out of the headstock slightly:
There is a lot of thick oily dust on the bed, and in the nooks and crannies of the compound slide. What ought I use to clean it?