You both make a very good point... DRs aren't tapered, so once the WD-40 dries and put I them on, I might have to lower the bridge. Mostly, what I was worried about is the fretboard being dried out and thus causing the neck to bend/straighten. With no truss rod, the bridge is the only way to affect the string action. And since it was maxed out, I was worried I had no where to go if the neck continued to bend. A new bridge was recommended in that case, from an earlier post. Or replace the neck.
I was going to suggest non-tapered strings, too, but also understand that the bridge saddle height adjustment screws are not the only way to affect string action - you can change the neck angle by adding or removing a shim. If you haven't had your neck off, you might want to remove it to have look in the pocket. It could very well be that someone previously put a shim in there and didn't do a great job of it (a neck shim seems like a pretty simple thing, but it's easy to get it wrong).
You usually shim a neck when the bridge saddles are bottomed out and your action is still too high. The typical practice is to cut a strip from a business card and put it under the end of the heel nearest the bridge to make the neck "lay back" by a fraction of a degree.
You can also put a shim under the whole bridge to raise it up so your saddle height screws can come down a little.
Now, as far as your neck "continuing to bend" -
the first thing you need to do is see if it's actually bending at all. Check your neck's relief - You have to check to see how flat the neck itself actually is, ignoring the bridge for the moment. Get a capo, clamp it on at the first fret. Then press down a string at the 24th fret, and check to see how much clearance there is at the 12th fret. Should be about 2mm, but less is OK. There is no absolute rule on how much neck relief is too much, too little, etc. - it is a player preference thing. Guys that pluck with a light touch and like low action often like their neck very nearly or completely flat. Heavier technique usually requires a bit more relief. I'd say the maximum is 3 or 4mm, anything more than that and you're looking at a possible problem.
Here's a pretty good guide on set up -
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This guy does a "two hand" method for checking relief; that's fine once you've done it a few times and gotten a feel for it, but using a capo frees up one hand to measure more precisely. I use a feeler gauge set to get really accurate measurements, which makes it easier to set things up consistently.
Once you establish that your neck relief is acceptable, THEN you get into bridge saddle height adjustment and assess the possible need to shim the neck (or bridge).