The only things that need to be oiled are the ball bearings. Give em a good blast with a motor spray and add a few drops of trinity bearing oil. Make sure you clean your wheel bearings, your servo saver bearings and most of all your clutchbell bearings. Every other point in the car should work freely if you just give it a thorough clean.
1/8 buggies are tough machines that can do well even with stuck bearings. It is that preparation that gives you that little bit of extra you need to stand up from the crowd.
(That goes to another post of yours too)
Kyosho Evolva M3 / Kyosho Lazer ZX-5 SP / Xray T3