[SEL] How to lube old engines?

[Rick I.]

Howdy, everybody!

I've just RE-joined the list; the last time I was here was when it was at
indiana.edu.
After years of looking, I've finally found my
first stationary engine to fix up.  I've been looking forward to this for a
long time.  I've got a fairly good idea how things work, but the
little details take a while to figure out, as some things are somewhat old &
nearly forgotten technology.

I've now got a hit-and-miss Taylor Vacuum Engine, Type C, 2HP.  It has
sparkplug ignition with a Wico EK magneto (type 2 drive), and open
crankcase.  It's a green machine.  :-)

I'm slowly going over the engine, trying to understand thoroughly what
everything does before I attempt to start it.

I've got several questions on lubrication that I can't seem to find the
answers to (I've already searched the SEL archives).

1) What weight of motor oil should be used in the piston's drip oiler (in
moderate weather)?  Perhaps something like straight 30 weight Quaker State?
Is a multigrade viscosity, like 10w30 ok?  I presume this same weight oil is
used to oil other parts of the engine before starting, too, using an
oilcan.
-I already know that on this particular type of engine you need to
mix oil with the gas in order to properly lube the innermost part of the
piston; I'm planning on using modern 2 cycle oil mixed 16:1.

2) On top of the governor shaft, there's a small pinky-sized tube with a
flap-cap on it.  You can see the shiny shaft down at the bottom of the tube.
I presume the tube is for oil (not grease).  How do I use this?  Do I put
just a *few drops* of
(the same) oil in, OR does it get *filled up* with oil?  (I'm not sure why
this one
component alone has this tube.)

3) I've got 3 grease cups.  I've read that the bearing grease cups get
filled with (what else) "cup grease", but what's the modern equivalent of
cup
grease?  Perhaps something like wheel bearing grease, e.g. Kendall Super Blu
High Temp EP grease?

4) How do you USE the grease cups themselves during normal operation?  I
presume I'll want to clean
out the old grease somehow, then fill it (how full?) with fresh grease...
then
what?  How much do I tighten the caps down initially?  An old Hercules
manual I found says "Watch the grease closely, give them a quarter of a turn
each time you start the engine".  Is this all the follow up attention it
really needs- a quarter turn before starting?

5) What oil should be used for the magneto?  Maybe light machine oil like
3-in-1 or Singer sewing machine oil?

Thanks a lot in advance,

Rick I. near Rochester, NY