I use a moly grease lube on my hinge pins, although I have used a freebee Krieghoff oil that was fairly thick on several hinge pins. Some worthies on the Practical Machinist South Bend Lathe BBS have switched to Mobil 1 0W-20 for their headstock spindle oil, as I have. This Mobil 1 oil has gained a reputation among that crowd for being extremely slippery and reducing friction and resultant heat.
If I was FORCED TO use oil instead of grease on my hinge pins I would find a Mobil 1 oil approaching the 80W-90 gear oil I use in my 1950s Johnnyrude outboard motor gear cases.
Just my $0.02 - your mileage might vary.
