I've been doing mechanical work for about two decades, and have used all sorts of different greases - my personal favorite type right now is marine wheel bearing grease. Waterproof, extremely low friction, it's just the right stuff for the job.

My currently preferred brand is Lucas X-tra Heavy Duty:
http://www.lucasoil.com/products/dis...id=14&loc=show

A one pound tub will run you about three bucks at most hardware stores. I find it superior in the long term compared to Pennzoil red. (this stuff is green) as it doesn't gum up over a two or three year period.

Though @JohnMemphis, jsharr hit it on the head - don't blame ANY grease type lubricant if it gums up after A DECADE OR MORE!!!

Good rule of thumb is, and I don't care WHAT lubricant you use, 3 years is when you SHOULD inspect/clean/replace, and 5 years is a must... Though grease is less prone to problems if you just let it sit there unused as opposed to oils which will slowly pool away from where you need lubrication. If you're actually USING the item - oil monthly or even weekly, grease at LEAST every five years.

Hell, five years of mechanical wear ALONE should require bearing and gear replacements if it's a daily rider - much less a decade or more.