There has been some debate locally about the benefits of upper cylinder lubrication. Several people in my club make it a habit to add MMO to their fuel for that reason. Not to benefit the head, but to reduce piston ring wear. The theory is that ethanol in the fuel (which is mandatory here in CA) combined with our rather primitive carbs can wash away the oil film on the cylinder walls, leading to rapid wear. For example, one local club member's TR4 started visibly smoking just a few thousand miles after being rebuilt, and kept getting worse until they tore it down with roughly 8000 miles (IIRC) on the clock. The end gap on the rings was huge. Replaced the rings again, and started it on a steady diet of MMO in the fuel; last time I talked to the owner he had over 30,000 miles on it and still no smoke. Steve Hedke (formerly of British Pacific and Team Scrappy) told me he has seen the exact same problems on other vintage engines, including a 50's Land Rover and a Ford flathead V8. The fuel would seem to be the only thing in common.
The TR3 owner's manual even mentions mixing upper cylinder lube with the fuel, "Such lubricants may be used with advantage throughout the life of the vehicle, particularly in cold weather."
I do the same thing but with synthetic 2-cycle oil (which is a lot cheaper than MMO and should hopefully work better as an upper cylinder lube), about 4 ounces per tankful. I can't really prove any benefit, but it seems like the engine likes it. Idles smoother (and higher), doesn't seem to use as much crankcase oil and maybe even burns a little bit less fuel. Or that all may be wishful thinking.
Not really related, but amusing I think : The old Judson superchargers came with a Marvel "Inverse" Oiler, which was used to lubricate the sliding vanes in the supercharger through a connection to the intake manifold. However, Judson specifically warned against using MMO or "upper cylinder lubricant" and instead said to use 10 weight detergent motor oil. There is supposed to be a cheesy label that they stuck on the oiler jar over the original Marvel sticker, but most of them fell off soon after installation.