Thanks BB I figured that grease would maybe make the dog clutch sticky and wouldn't move as freely as it should, I will dab a bit of oil on it when I put it together As for the self aligning I did order the same number bearing and will probably oil it as it's not sealed and has an oiling hole to keep it maintained, I also noticed oiling holes on the clutch cone/shaft.
I painted the reel Chevrolet orange-red, it's a little more red than the Chevrolet orange motor I painted and I think it looks very close to the old paint on the reel before I stripped it. It still looks orange but compared to the engine its more redish.
When finished it will be as close as possible to being original from the factory, there's a little more work I have done that hasn't been posted yet that i will post when assembled and complete which I haven't seen on this forum or anywhere else online. It's the icing on the cake.
It will probably be the only mower in my street that's not plastic and Australian made.