FWIW -
I have a track bike that I race at the local velodrome (talk about a lucky guy!). In the back, this bike runs a Campy Record hub (with oil port) laced to a Fiamme Ergal rim. Our races are thankfully brief, few longer than 15-20 laps (3 to 4 miles). There are two to three races per category per outing. At the start of each evening, I oil my hubs with a light weight machine oil. Including warm ups, I probably put 12 - 15 miles on the bike in an evening. If you have in mind this sort of application for an oiled hub, it's pretty livable. Don't know that I have the nerve to go for a century like this. I do know that I'd never go for this high maintainence situation on my better half's bike. ;->
Sid 'Still snow on the velodrome, Drat!' Smith