Personally, I don't like using too much oil. Oil attracts dust,dirt and grit. Also in cold climates, the excess oil can freeze and in warmer ones gum the action. All these things are bad news the action. They will leave you looking at the south end of a north traveling buck and NOTHING to do about it...
I know what you mean and what your up against keeping the action clean. I haven't used it yet, but I am told the 25ACP conversion pretty much cures the dirty action problems....
I would disassemble the action. Thoroughly DE-grease and blow it out with strong compressed air. Follow with MINIMAL amounts of a good SYNTHETIC oil. (This will not freeze or at least not freeze at 32 degrees like petroleum bases oil will.) Lastly, get yourself a 25ACP conversion and be worry free!!
Good luck,
CW