important parts for lubing

This is my approach to lubing older steel bikes:
If I have packed the ball bearings with grease recently, and if I am sure no degreaser or detergent has got into them, then I leave them alone. If they are not sealed and have old grease then I oil them regularily and specially after cleaning the bike, until they get a strip and re-grease which is basically when they get replaced!

I also oil all moving parts like derailleur pivots, brake pivots, lever pivots, and cables; except those I know have been greased recently. Pedals with non-removable end caps get a small hole drilled for oiling.

I oil all I can reach with the bike standing, then upside down, laying on the left side then the right side, letting gravity pull the oil into the places it should go into.

I don't believe in self-lubricating plastic; it will work better with a drop of oil.

My secret recipe for oil is 2 parts engine oil, 4 parts STP oil additive, and 1 part solvent like Shellite or white spirit. Works for me and my old bikes, but I would think twice about using this method on a carbon wonder, and probably do it anyway.

What he said.

I think of "greasing" and "lubing" as two separate processes. I'm pathetically delinquent in greasing anything on my bike! But I lube brake & derailleur pivot points, as well as all cables, religiously. But I'm far less anal about *which* lube to use on pivot points & cables than on my drivetrain; all those products that people tell you will suck for lubing your chain (eg., WD40, White Lightning, 3-in-1, earwax, etc.) seem to work just fine for pivot points & cables.