Yeah you have to take all the grease out. Different companies make different lubes, ofna, mugen, kyosho, assioated, and the list goes on. I've only had experience with ofna lubes and they work great. They are also the cheapest for the quantity.
Diff oils go from 1000 wt on up, the highest I've seen was something like 200,000. IMO at that weight just lock it up, but what do I know.