If your unit is one of the first, I wouldn't reduce the amount of oil. Magnason specified the amount of oil to be used in the nosecone and you may encounter warranty issues.
In the later units They supposedly installed sealed bearings in the nosecone. In the first units, look at the angle of the engine and the level of the oil compared the location of the bearing just behind the pulley. Then let your consience be your guide.
FF