Servicing a baitcaster is not rocket science - rather simple actually if you take your time (especially on your first try!) and do things methodically, keeping all the parts in order for re-assembly.
I would
not grease bearings on a baitcaster, rather use
oil (
Reel-X or any other appropriate oil, such as
Hot Sauce) on the bearings of baitcasters as grease in the bearings would slow the spool right down and severely compromise casting distance.
Grease (
Cal's Reel and Drag Grease - nothing else comes close) will take care of the
gears and
Carbontex drag washers (a must-have!) ... a little oil will do for the other moving parts ...
Before you start, check out the following websites for some excellent info:
http://alantani.com/
http://www.smoothdrag.com
http://www.mikesreelrepair.com
http://www.reelschematic.com
A good service (and a
Carbontex drag washer upgrade from
Smoothdrag) will revitalise just about any old reel (provided it was of reasonably good quality to start with) ...
Old
ABU Ambassadeurs from the 1970s and 1980s were not known for their smooth drags, but if you do the drag upgrade and give them a good service, they may just become your favourite reels!