Yep, was going to keep the outer shields on the bearings, with the separate seals as well it should be leak proof.
I was thinking oil would give less resistance, and be able to flow better into the bearings. In full size the grease gets forced in by gun, whereas I have no intention of making a 1/16 scale grease gun!
When I get myself organised, I'll start posting how it goes. Quick bit about me-this is my first proper attempt at a steam engine, but I've been a machinist in full size for a good 12 years-trams, jet engines and classic bikes. I did start on a Tich, having bought a rusty rolling chassis but after making a few bits I decided I'd rather put the effort into something more interesting. Much as I love LBSC's writing, his methods are very much of their time (imagine his joy at finding his local supermarket flogging ok-ish digital calipers!).