I also like and use Labelle lubricants -- however recently I have discovered new lubricants made by Aero-Car Technology, Inc.. They sell a kit with Conducta Lube (great for motor electrical contacts - brushes and commutator), Motor Bearing Lubricant, and "NG Gel" gear lubricant. These are vegetable based compounds and do a very good job. They recommend cleeaning out all old lubricants before applying. I believe the Bachmann and Life-like lube kits are now made by Aero-car.
They also make a very good track cleaner - the best I've ever used to clean up really dirty track (like my box of American Flyer track) -- it requires a wipe-on and second clean cloth wipe off (so it doesn't work all that well in my Centerline cleaning car), but it really does cut through to the shiney metal.