For maybe 45 years I've been using L&R watch and clock cleaning
solution in conjunction with a large tank ultrasonic cleaner for
clock and player transmission work.  This pretty much eliminates
having to disassemble stuff, unless bearing work is required.

I agree that, with modern oils and grease, that oil with Teflon is
probably the best.  Keep in mind Teflon is easily distorted under
heavier loads, so it might not be advisable for ball bearings in
a pump.

Tom Binnall
Auburn, Washington