Many thanks for the informative reply, Al. It's good enough for me to know that the prolonged presence of old oil on the blade does not damage it. Just one more question: How come people say when you oil your blade too much the old oil will go rancid and in the long run will damage the blade? Doesn't it mean that old oil residue is bad for the blade? Or is it the quantity?
I WILL stay away from the esoteric discussion and did not intend to generate discussion about it. The only reason I brought up the subject briefly is just to explain my regimen - which I am fully aware as being not very common in this day and age - and get the necessary relevant technical information to support it. I myself am uncomfortable discussing these matters in person with a modern Javanese or even Balinese as different cultures have different beliefs regarding krisses (my Balinese friends tend to warn against having a "living kris" and advised to be very careful with such an object unless one's fully informed about what to do with it, so there's another cultural perspective). So yes, let's keep the esoteric part very minimum