With the Nut loose I was only getting 78 drips a minute, Is this unusual? Should it have been more?
When I did our P30 this spring, I used a large-ish-bladed screwdriver to gently initially seat the packing material. Then I gently
screwed the packing nut down until the material "felt" pretty much fully seated. (Note: Unless you've worked with a lot of mechanical things over the years, many times blind, this might not be the method for you.) Then I backed the nut off until the packing material felt just barely packed. When our boat first went in the water we were getting a drip per second or better. I snugged the nut down until it was one drip every 7-8 seconds (being very cautious, here, as you can tell) and tightened the lock nut for her 15 minute trip from the launch location to her temporary slip. By the next day the at-rest drip rate was already down to one every 25 seconds or so. With no further adjustments, and after another... I dunno... 1-1/2 hour's time under power, it's down to one every minute or so at rest, all on its own. After about 15-20 minutes into that run, btw, it was at one every 10-12 seconds under way.
So my thinking is: Let the drip rate be a bit on the high side at first and see if it doesn't settle-down all on its own, before tightening further.
As a first time boat owner/operator/maintainer, it is a real treat to have a resource like sailnet to refer to.
You're quite welcome.