My 201 has the external motor and belt drive. I have tried various types of grease on the meshing gears but have returned to oil. The machine runs nicer with oil. I use a light synthetic oil with teflon. The only issue might be you have to unscrew the two black cups that covers the gears to inspect now and then. You can reach them with oil from the bobbin case and a hole closer to the base under the stitch length lever. I'm not sure if you can use oil in connection with the worm gear close to the potted motor on the 201-2, if there's any chance oil could seep into the motor grease would be a must. The 201-2 has internal wiring a bit different to the others, so I would stick to the manual regarding lubrication. The older 201 manuals actually recommend oil everwhere, exception is the 201-2. For some reason the manual with the later production 201 recommends grease on the meshing gears.
The two cups under the base of the machine have tree screws that needs to be unscrewed and they the corkscrew meshing gears are open to be cleaned and greased. I'm not sure how you reach the gears behind the potted motor, you might have to take off the hand wheel.
Last edited by Mickey2; 10-14-2015 at 01:55 PM.