I did the Bob Marvel custom build class. I consider him the Zen Master of the 1911. He puts a drop of oil on either part of the interior slide rail and a drop rubbed on the top of the barrel where it will contact the bushing. That's it. Granted, we're talking about hand fit, custom guns. Mine feels comparable to any top tier gun. Bob actually had his own brand of oil. It was thinner than most. Remember that oil and especially grease will trap dirt and then become like a lapping compound. I guess if your gun wiggles already, then it doesn't matter. But if it's precision fit, don't mess it up.
Oddly enough, the only jams I had with this was when I first built it and forgot to lube it. It was dry as a bone. After lubing and break in, it hasn't ever failed. My Glock 19 was reliable too...until my NRA Instructor test. 2 failures to go into battery in the first 20. Then another in the second 20 rounds. Never failed before. Turns out it was just filthy. Powder and garbage piled up at the rim of the chamber and threw off the headspace. Did two FTF clears. The third time I just pushed forward on the slide a bit to put it in battery. Lesson learned: If you might rely on the gun to save your life someday, keep it maintained. It can, and will, fail at the worst time. Lucky for me it was just during a test. Twice.
Oddly enough, the only jams I had with this was when I first built it and forgot to lube it. It was dry as a bone. After lubing and break in, it hasn't ever failed. My Glock 19 was reliable too...until my NRA Instructor test. 2 failures to go into battery in the first 20. Then another in the second 20 rounds. Never failed before. Turns out it was just filthy. Powder and garbage piled up at the rim of the chamber and threw off the headspace. Did two FTF clears. The third time I just pushed forward on the slide a bit to put it in battery. Lesson learned: If you might rely on the gun to save your life someday, keep it maintained. It can, and will, fail at the worst time. Lucky for me it was just during a test. Twice.