After a quiet morning finishing off the casing of the movement and doing some adjusting, I think I have the watch working to reasonable limits.
I don't know what the "COSC" specification is for a 38 year old Seiko, but I've adjusted it to the two positions where it will spend most of its life, crown down (being worn) and dial up (being stored).
At crown down, it's minus four seconds per day.
And at night, it will gain eight seconds per day.
So, theoretically, the watch will gain four seconds every 24 hours, however, these figures are not absolute as the rate will change depending on many factors in the power train and the way the watch is worn (as explained in detail
here), so onto my winder with a super accurate companion to see how it performs over the next 24 hours.