When I used to work in a machine shop (college job, many lifetimes ago) the guy responsible for the high precision lathes used to use STP Oil Treatment to lube his machine. Other freinds of mine who are shooters use the same stuff to lube their reloading presses. On a whim I have tried it with my VPI Aries and I think that it works great.
The trick, as with all lubribation for VPI decks, is to not use too much lubricant. For a standard (non-inverted) bearing use 2-3 drops into the bottom of the well and a THIN coating on the bearing itself. Thin means almost microscopically thin - you are not trying to actually lube the bearing, but rather to fill in the microscopic grooves in the metal. Capillary action will take care of the rest after the oil heats up.
The trick, as with all lubribation for VPI decks, is to not use too much lubricant. For a standard (non-inverted) bearing use 2-3 drops into the bottom of the well and a THIN coating on the bearing itself. Thin means almost microscopically thin - you are not trying to actually lube the bearing, but rather to fill in the microscopic grooves in the metal. Capillary action will take care of the rest after the oil heats up.