Or remove it, and properly service it. It's the only mechanical part on a vintage bicycle (the rest are simple axles with or without bearings).
"Drip--- spin--- drip" is only a temporary solution and doesn't effectively remove contaminants such as dust, grit, rust, the dried out original grease, or bad ball bearings. Also, the oil does not last as long as a proper grease nor does it protect the internals from future contamination.
Would you
"Drip--- spin--- drip" on your BB, your headset or your wheel axles? Of course not!
