Picked up an old Mallory dual point YL-541-HP distributor off eBay for my 1911 with Weber 40's. Also purchased Petronix to convert it to electronic ignition (shout out to Mark Henry for the help here)

Pulled the points and took a peek inside.



Little surface rust as you can see, I'd like to pull the guts and inspect/clean/lube but I don't have any experience with distributors. Is this something where I can just start removing screws, or are there any positions I need to pay special attention to?

Distributor spins nicely, no play.



And it looks like there is a lubrication port. Any recommendations for type of lubricant?

Get a tube of Bosch distributor grease.

I'll look into that.

Found an assembly drawing.



And this

No! Just oil!
Get a pin oiler, the ball just pushes in so you can lube it.

The dizzy you have will work OK, but I prefer the red cap model.
The red cap is the exact same as a unilight... except with points. They're also drilled for oiling like a bosch.

Figured I would update for future searchers.

Comes apart easy, pulled the screw on the fork and the E-clip pictured. Then the weight cover lift up exposing the weights.



Mine were gummed up, pulled the springs then pulled the weights.



Cleaned up the shafts and the plastic bushings in the weights, oiled with a light amount of standard motor oil and reassembled. All ready to rock now.

Make sure you have the correct springs in there for the advance profile you want...

I recommend gray/gray springs, you can buy them at aircooled.net

https://vwparts.aircooled.net/Setup-Mallory...distributor.htm

Thanks again Mark Henry, gray/gray ordered.