I just got off the phone with Wells-Index and they said that way oil is the only recommended lube that should be used on the table and such (even though it was made with standard grease gun size zerks). He recommended that I pull the gibs and clean it up a bit, but didn't think I needed to completely disassemble it, as the oil would eventually flush out the dirty grease.
A couple other things I learned from my phone call.
My Index Super 55 (SN 55-7171) was built in November of 1956 and sold to a business in Toledo for $2550.00. (so it's slightly younger than me!)
He said that they are surprised by how many re-grinds of the quill they do (from B&S 9 to R8). Some weeks they do 3 or 4. He said that they figured that the old mills that haven't been redone would dry up soon, but they keep showing up. I'm still holding out on that, as it'd be about $350.00 with shipping.
Jack