first, don't ever use oil...you should use the silicone made for the table and that only...there has been no change in the size of the bearings as far back as I track tables
buy the small bottle (0.5 oz) of silicone offered here it is the best way to put the right amount on your rods...it makes a perfect small bead
http://foosdirect-store.stores.yahoo.net/silicones.htmlorder this big silicone to refill and you will be good for a couple years at least - 8 oz bottle is $12
http://tornadofoosb.powweb.com/store/page9.htmlif one bearing seems too tight it may be that it is just tightened too much or it is just weakened over time and is clamping down too much
because of the table age and the fact you put oil on the rods, you should do a one time total cleaning...remove all the bearings, inside and out, and all bumpers and then wash with hot water and soap...there is likely a lot of gunk built up so you will need to do some scrubing too, use a tooth brush and rag as needed...after a really good wash, rinse them in as hot a water as you can and set them on a dry cloth to dry out (hot water helps get off any soap and will help them dry faster)...before replacing them, make sure they are completely clean and completely dry
use hot water and a clean cloth to clean the rods...use can use a little 401 on them to ensure you have all the oil and any other residue off the rods - make sure you dry the rod completely since left over water can begin rusting
on replacing them...remember with the bumpers, the side with the holes is the side that touches the wall...your bumpers won't last long if you put them in backward
on the bearings...the split bearing is where the rod rubs so the half that is on the bottom is the one that gets worn...this is not all bad and you may want to take note of this before removing them if you can keep track...check the surface for how they have worn or if there are any burrs or anything that would keep them from being smooth...you can use a very fine finishing sand paper to smooth them out if needed...800 to 1600 grit depending on your detail and willingness to refine...you don't want to change the shape of the bearing and you want to make the surface smooth like glass...you only need to do this on the bottom half of the split bearing, the rod is not going to be impacted by the upper half (however if there were burrs i would remove them even on the top side
when tightening the bearings there is a balance...you want them as tight as possible without them clamping down on the rod...you want to remove as much "play" in the rod...this will keep the rod from swimmming in the bearing which will make your shots more predictable and will help with the life of the bearings...to have a loose bearing and the rod swimming is putting a lot of violent motion on the bearings
i know people who loosen the bearings so that the outside nut is wiggling and even turns a little on its own...they think this make the rods faster but i TOTALLY disagree...you can make the rod swim 1/4 inch or more and this impacts catching the ball and shooting...if your bearings are in good shape, the rod is siliconed properly, and the rod is tightened right, you will have the best of all worlds
you should not have to do this long tedius process more than once every 3-5 years depending on how crazy you are with the silicone
you do all this and i am certain you will be amazed at how good the play is