Great video! Very well done camera, lens, and microscope work! Impressive for 1937. People these days don't even bother to make such difficult videos.
Good explanation on the oil circuits and basics of lubrication. However, they didn't go into the details of how lubrication actually works, such as the boundary lubrication and hydrodynamic lubrication. This is probably partly because this wasn't understood that well in 1937. The oil film between the block and incline is somewhat misleading because if there was load on the block, it would squeeze the film out after the load exceeds a certain amount and there would be metal-to-metal contact (boundary lubrication). When placed under load, the fast-shearing motion is what keeps the oil film in place in addition to the viscosity of the oil -- the so-called hydrodynamic-lubrication mechanism. This is the same reason why cars hydroplane -- when you drive on water, there will be tire-to-road contact (boundary lubrication) below a certain speed but when you exceed a certain speed, the tires will completely separate from the road by a water film and the car will start flying over the road (hydrodynamic lubrication), just as the shaft never touches the bearings at high RPMs in an engine because an oil film separates them thanks to the viscosity and fast shear motion, metal-to-metal contact only happening at low RPMs (low shear motion) and/or high loads.