On the Ulterra, I follow the factory recommendations. I use a water based silicone on the shaft and belt. I use marine grade grease on the locking pins.
I do not tempt fate by opening up the power head. If it isn't broke, don't fix it.
Capt. Craig Copeland
Licensed by the US Coast Guard
2013 Nautic Star 2110 Shallow Bay Boat
Humminbird HELIX 12 CHIRP MEGA SI GPS G2N
Nautic Star Boats Pro Staff (nauticstarboats.com)
Redneck Fish'n Jigs Pro Staff (redneckfishn.com)