i started using slideway lubricating oil off ebay some time ago. It does it's job well. Little is needed and it's stable and hangs around for a long time with no noticeable fuming. It's obviously from the state of the bottle it's kept in that it doesn't absorb moisture etc from the air either. Can't say the same thing for my cutting oil but I only use that sparingly.
I've used moly grease for a very long time. I was a little concerned about it's speed rating but haven't had any problems. ArcEuro started selling a high speed type some time ago so now if something needs grease I use that. In the past it could be difficult to get hold of it and despite what some people think it does extend life. Ford have been known to start using it on some parts that aren't making it through the warantee period. These days there are some incredibly expensive greases available.
Some people use a hydraulic fluid for spindle and general lubrication especially to replace oils mentioned in older lathe literature. Like those these are generally highly refined mineral oils.
I used to use all sorts of things when my lathe was in the garage including wd40 to prevent rust. It didn't take me long to realise why I developed a cough. Then there is the problem of hand contact – engine oil isn't intended for that and does smell. It's also intended for use where it's very hot for extended periods.
John
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Edited By John W1 on 03/06/2015 09:45:21
Edited By John W1 on 03/06/2015 09:46:57