Shimano Bantam Oil P/N BNT1445 and Shimano Drag grease P/N A-DRA1/4
are available from Shimano directly.
Call their customer service line @United States 877-577-0600
6:00 a.m. to 5:00 p.m. Monday - Friday
Pacific Standard Time.
They are very friendly and helpful.
Shimano only recommends a full breakdown and cleaning if reels have been used in Saltwater, or have been fully submerged.
If you have a Bass Pro Shop in your local area, you can usually get them to give you the small tube of Bantam oil which us supposed to come with almost all their reels. You will only need the grease if do a complete tear down for either a worn part or MAJOR maintenance.
The Zebco oil is probably OK, but it looks a bit heavier than the Shimano lube, so I would use it VERY sparingly. The Shimano oil is a very light, clear lubricant.
There are also some firearms lubricants sold under the brand of TETRA GUN which has PTFE in it, which actually will fill the pores of the steel. There is also another GUN lubricant called BREAK FREE which contains teflon, both should work very well, but remember Fishing gear requires much less lubricate than most other sporting gear. If you decide to use an alternative lubricant, always remember, as per the Shimano instructions, only a tiny amount is needed.
I prefer to use the manufacturer' recommendations for lubricants on my reels, but the two others I mentioned, as well as the others mentioned here in this thread should also work fine.
In the case of Major Maintenance, I would prefer the TETRA lubricants because of the PTFE (the same stuff that is used to coat T-FALÂ® cookware), of course it is microscopically granulated and suspended in the oil or grease.
Shimano has Reel Schematics and Maintenance guides available on-line @www.shimano.com
Always be sure to wipe off any excess grease or oil, and if using "Q-Tip" swabs for cleaning be sure to examine your parts very carefully with a magnifying glass to be sure you removed all the cotton fibers before oiling. If you have any fibers left over, they will actually cause more problems.
DO NOT use WD-40 as the WD stands for Water Displacement, and while it works great initially, it will leave a residue and actually gum up!
Like all else, read the instructions
Oh BTW if you all are wondering, yes I repair reels
Good Luck & go catch those "Big Ones"