A:
This is a bit like asking what's the best car. Everybody will have an opinion. LOL
My favorite oil is Quantum's Hot Sauce for an excellent balance between performance and protection. As a general rule, the thinner the oil, the more free-spinning the spool will be (and the more distance you'll get), while thicker stuff will last longer so you won't have to apply it so often.
Grease selection isn't critical and any reel manufacturer's will do the job nicely.
DO NOT try to save a few pennies by getting lubricants that are not made specifically for fishing reels.
Use oil for fast-moving parts like bearings, and grease for parts that move more slowly like gears.
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