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It often even comes with new points but I wouldn’t use just any grease. It’s designed to cling and not be thrown off.

I am still running the 6volt positive ground system with a good-old-fashioned mechanical voltage regulator. The system voltage was a little low for a while, and now it might be a tad high (7.7 when cold) but when warmed up is pretty much right on the 7.3 - 7.4 volt spec. (it is not 12 volt)
I also used Bosch distributor grease on the cam, but maybe I just used to little grease.