I would not use any kind of grease. I clean mine out and then soak them in new diesel fuel. After they are cleaned out this way and the diesel fuel will act as a light lube then they will work easy. Then if they get turning hard I just hold the head under some parts cleaner and ratchet it until it moves free. Then blow it out with air and lightly lube it again. If you use the ratchet on a regular basis then it should not need much lube. Most of the stuff I work on is greasy and oily anyway so most of my tools are well lubed anyway. LOL
The light sewing machine oil works well to lube them with. It is a very light oil that does not seem to gum up.