I'm in the process of mounting a Jelco 750 to my 398. Send me an email and I'll forward some pics to you.
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I wouldn't worry about a 598 arm in good condition being destructive to your vinyl. I bought a 598 new many years ago and used it for probably at least 15 years. I've upgraded turntables twice since owning the 598 and I've never detected any audible degradation in the vinyl I played on it. This weekend I listened to a number of albums from the late seventies that I played ad nauseum on the Empire and was struck at how great they still sound.
Most old vintage turntables made in the United States used regular automotive motor oil. The Rek-O-Kut, for example, used SAE 20. That said, Photon46's suggestion of a heavier, but similar, oil is a good one because the heavier weight provides a bit more dynamic braking. That's a good thing, and the Papst motor on the Empire can easily handle the extra drag on the system.
If you want to be a little more adventurous, you could try some of the more modern oils. Recently, I lubed a Fairchild 750 transcription turntable with a heavy weight of synthetic Royal Purple industrial grade oil. It was SAE 64, if I remember correctly. I also put a small amount of Royal Purple grease at the bottom of the bearing well. The results were very nice.