Interestingly, I just called NS this morning to inquire about a replacement stock tip. I had heard that they also make a steam tip with reduced pressure. I find that I can foam milk easier using my Elektra MicroCasa A Leva which has two outward facing holes.
That steam tip of yours doesn't look at all like the stock tip for NS Oscar. Not only that but the 2 holes which are perpendicular to the thread axis look mighty huge. You'll probably run out of steam pressure quick.
The stock tip for the Oscar has 4 holes on the bottom that are angled outward, with holes that are small (or large) enough to allow you to jam a toothpick into it.
OEM stock tips from the factory IIRC are <$5 (+shipping of course). Check the Nuova Simonelli website, p/n for it is 73006003. I was told by a tech on the phone that the 'reduced pressure' steam tip is 73006003.1 It wasn't listed on the Oscar price list nor their price sheet.
See:
http://www.nuovadistribution.com/pricing.html for price on the stock steam tip.
See:
http://www.nuovadistribution.com/...ts%20Breakdown.pdf for the parts breakdown which will show you the part for the steam tip.