My first question Stuart is, are you using the correct steam oil? If it is too thin (or not proper steam oil) then that could cause you to use more than required and it will inevitably end up underneath the front and probably over the upper works as well, even along your rolling stock.
Most displacment lubricators tend to deliver too much anyway, too much sometimes being considerd better than not enough (not in my book!). I think both are as bad, largely for the reasons you've posted; too much gets everywhere and then collects dirt etc. too little and it accelerates wear rates.
However, that said, a cylinder requires surprisingly little. One full size loco that I used to drive only got a cupfull a day, split between both cyls, and poured into the cylinder before running started.