Do not use 3-in-1, or any other penetrating oil such as WD-40 or LPS-25. These oils will eventually turn to a sticky gum as the solvent in them evaporates over a period of days to months. I have had gun and sewing machine oil gum up.
Plain old engine oil works very well for general lubrication, SAE 5 (if you can find it) or Mobil-1 synthetic oil is fine enough for most photographic uses. Automatic Transmission Fluid makes a good fine lubricant, but it has a terrible tendency to migrate. Mineral oil and 'turbine oil' are other good choices.
The proper oil for cameras is Nye's clock & instrument oil, but I can't say I find it works any better than SAE 5.
The best grease I know of is Corning High Vacuum Silicone Grease - it doesn't separate, migrate, run, out-gas, get stiff in the cold or gum up - great for focusing helicals, much better than the 'damping grease' usually used for this purpose.