I am currently overhauling my old bike. I took out the axles and bearings in the wheels. I applied automotive bearing and axle grease. The wheels now turn roughly, not smoothly at all. Should I add more grease?
You probably tightened the bearing cones too tight. Back them off a bit.
Do you have bearing retainers (a round cage-like thing that holds the bearings) or free bearings? If your bearing have bearing retainers, make sure you didn't put them in backwards.
Use a bicycle grease. It's formulated for our needs.
Also, be sure to NOT over tighten the cones. That will cause the condition you describe.