I agree oil is far better for roller bearings and splines, it's been proven time and again in the trucking industry that hub bearings that are oil lubed run cooler and last longer (as do their seals) than a comparable greased hub bearing, and the spline issue is a no-brainer.
I actually think a
dedicated CV grease is superior to any heavy oil for ultimate CV protection/wear, it will have a much higher load rating due to the lubricating solids added.
The Land Rover 'One Shot' stuff is very average though, it's just a basic mineral oil with a Li complex thickener and 3% MoS2.
The reason Land Rover use an NLGI 00 grease is that it's pretty much a liquid at room temp so splashes around nicely in the housing, keeping the swivels lubed yet doesn't leak past the seals quite as readily as an SAE 90 oil.
I'm splitting hairs though, and I run oil (well, a mix, I keep the compartment separate and add 'stuff' to the oil

and no it's not crap like Moreys or Lucas or STP 'thickeners')
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