There was a thread not that long ago about favorite greases for packing bearings. Many have different opinions. Me, I usually opt for a bearing grease with Moly...which is most usually an outside application grease...probably overkill. Would also be hard to beat a good synthetic bearing grease. Some went on here about Red something or other.
The sintered bushing usually come in two types; dry or wet. In the beginning, sintered bushing usually had a 'wick' that fed the sintered bushing oil. Later on the sintered bushings came impregnated with dry lube. I completely clean the sintered bushing and re-oil with 20wt non-detergent oil. This can be at cross purposes for some dry impregnated sintered bushings. But for all practical purposes in vintage vacs, it's not an issue. Check the shaft and the bushing for play too....polish the armature shaft with some 400-600 grit wet & dry emery cloth...use oil for your lubricant, clean often.
With a bearing you have to determine if there is any play...if there is (or roughness), pitch it unless it's like unobtainium.
Kevin