Acoustic Research ARXB - main bearing has alot of grey grease in there - i thought it was supposed to be thin oil?

Check that the audio cable does not touch anything before it is secured to the base.
There should be proper strain relief on the cable so the chassis can move freely.
Also make sure the chassis cannot touch the base anywhere, including the side
of the hole for the bearing. Does the chassis float freely?

Could the problem be that the tone arm horizontal bearing is binding, did you clean it too?
Remove the stylus, set the vertical force to 0g so the arm floats.
Blow on the side of the head shell gently. Does the arm move freely horizontally?

The original AR oil was a lightweight sewing machine type oil.
 
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Stopping playback, lifting the inner platter, and spinning it down to settle to its height before replacing the belt and outer platter sometimes stops that noise, but only for a few minutes.
Could this imply that the belt is rubbing on the flanges of the motor pulley? (Assuming that yours is not a very, very early model with two motors).

Also, the vertical arm bearings of type Xa are just bronze/brass cones seating into Delrin bushings, easily overtightened and deformed.

All good fortune,
Chris
 
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