jviss, You make sure the shaft gets sufficient
cooling the same way you do with no grease fitting; check it often after you have tightened the nut, and occaisionally after it seems stable.The grease will melt and lubricate the packing as it warms up. If the nut is really loose, you can get a bit of grease flung off the shaft, but that's only if the nut is very loose or the packing is gone.Also, the newer Teflon packing is, by all reports really good stuff. It will help to make a no drips at rest, slow drip while running situation, and with a grease fitting on the tube, you should be able to have safe and dripless.I have confirmed a couple of sinkings and have friends who nearly lost their boat from a bit of crud in the dripless seal type shaft seal. I don't think they're safe.