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The earlier distributors had an oiling provision for the advance plate accessed by removing the rotor. When the rotor is removed it will reveal a hollow shaft with a felt pad down in it which should get a couple drops of oil every few years.
However this was deleted later (my 1994 engine doesn't have it, but the 1985 and 1969 do). If you remove the rotor and find a small diameter solid post, you're out of luck.
The very early small block distributors even had an oil cup on the outside of the body which was for oiling the bushings. Usually these distributors show very little wear, presumably because now and again they got oiled.
I haven't tried to take apart the late style dist, but perhaps some disassembly is possible from the top to allow a drop or two of life-giving oil to be added to those parched bearing surfaces.
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