Bill Schwab wrote:

Way oil is going to be preferred - Mobil Vactra 2 is likely to be the
recommendation. The spindle on the 31 is more mysterious. The Yahoo
mill/drill group seems to suggest that it is pre-lubed and that's it.
Scares the willies out of me, so please report back if you get a good
answer to how to protect those bearings.

Unless there are posts to the contrary, start with 30 or so motor oil
instead of WD 40. Any oil beats no oil, but I suspect you will agree
that Way Oil is worth the little bit of time it takes to order it.

Someone else suggested chainsaw bar/chain oil as a substitute for way
oil, so you might try that while you are waiting.

Bill