In my research, I never came across a communication from Victor wherein they suggest that the bearing "never" would need service. This is in contrast to the Denon DP80, where Denon do warn customers to leave the bearing alone. (But I daresay they probably were not envisioning a 40+ year lifespan when that advisory was issued.) Anyway, when I had my TT101 motor apart, it was very easy to access the bearing well, and I did clean out the well and replace the lubricant with a single grade synthetic motor oil, the same brand and weight that are recommended on the L07D website for the Kenwood L07D. I kept the original bearing ball and thrust pad, as they exhibited very little sign of wear.
Chakster, Does the occasional noise that you hear seem to emanate from inside the motor? Is it periodic in nature, which is to ask does it come and go with each revolution of the platter and at a faster rate when you are in 45 rpm mode? If so, you might be hearing the rotor rubbing on either the underside of the top cover of the motor or the stator below the rotor. (I am relying on my memory of the anatomy of the motor, which may or may not be accurate, but it's the rotor doing the rubbing, I think.) There is a fine adjustment of that spacing that is achieved by use of very thin copper shims, at the factory. Under the bearing well, which you can access without taking the motor apart, you will find a slotted head cap. You might try very gently turning that threaded cap up or down, and see whether it affects the noise. That cap can be used to fine tune the spacing between the rotor and the stationary parts that reside above and below it. Slow and gentle is the word of the day.