I have an 046 that gets a lot of use from a few different people. I went to use it the other day and noticed it wasn't oiling. The oiler adjustment screw now just turns freely without a starting or ending point. Any ideas.
Either the oiler adjustment screw has somehow gotten backed out or the tip of it is broken off. The adjustment screw has a flat "shoulder" on one side to limit the amount of adjustment. Sometimes in rare cases of abuse the tip will get broken off and this usually coincides with the tail of the pump piston getting broken off too. Most likely you'll have to rebuild your oiler with a new pump piston and adjustment screw, or find a good used replacement oiler (which would be cheaper than the two new parts).
In addition to the above.. if the adjuster just rotates, the pump body casting is broken off... (somebody really reefed on it!) It's a cheaper to buy another pump new than all the parts, or get a used pump for about $25-30.