There are so many reasons why you'd want to upgrade an old ceiling fan. Maybe it's already sluggish and doesn't serve its purpose on a hot day, or it keeps making weird sounds that not even the WD-40 ...
But it (-W-ater -D-isplacing formula # 40) also evaporates rapidly, then you add some real lube. I use a syringe with small 1/2" 2 ga needle, filled with synthetic disc-brake wheel bearing grease.