Yes, I often use silicone rubber tubing over the screws, instead of the springs. No potential buzzing, and it has a pretty long life. I use 1/4" OD x 1/8" ID tubing over 4-40 screws.
I was using brass threaded inserts with 4-40 machine screws for mounting pickups for a few years in my basses, but I gave up on them. The adjusting screws tended to vibrate out of position from playing. The tubing/springs/foam doesn't provide enough load on the threads to lock them. These days, I use the 4-40 machine screws, but thread them directly into the wood. The threads are strong enough, and the wood grips the screws enough that they stay put. And pickup height adjustment isn't something that you are doing frequently. At least you shouldn't be.
My favorite way to mount pickups, which I use on all my current model basses, is to eliminate the tubing/springs/foam and put a nylon locking nut on the screw, underneath the pickup mounting flange. This makes the pickup positively raise and lower when the screw is turned; no springiness at all. The pickup is locked solidly to the body. It takes a little engineering to make the clearance for the nut underneath, but it's worth it.