Both Quantum Hot Sauce and Ardent Reel Butter failed my bench test. Both fouled and turned black in a COMPLETELY stripped, degreased, and rebuilt reel. Not only would I not recommend those products, I would recommend you avoid them at all costs.
Any gold lithium grease, Shimano Star Grease, Shimano PermaLub, Cal's Light Purple, Cal's standard drag grease, will all give long lasting results. SuperLube and Penn grease work well, but they're really messy. I do like Penn for saltwater gear. For oil, Shimano Bantam Oil is my favorite general purpose. Oust Metol is my favorite performance oil. For cleaning and degreasing, I use Perfect Solution (NOT SIMPLE SOLUTION!!!), Dawn, pure acetone for a beauty supple store, told tooth brushes, and elbow grease. For tools you'll need size 0 and 1 phillips, 1/6 and 1/8 slot. 10mm thin wall, deep socket, and a ball peen hammer to smash yourself in the head when your too frustrated to finish.
I suggest you start by getting an exploded diagram of your specific model reel. Gather your supplies, and start watching videos. If you can't COMPLETELY take apart every single part from the reel, don't bother, since any old grease left behind will foul the new grease. I like to use a muffin pan to keep each of the sub-assemblies together. De-grease the bearings by swirling in a glass jar with Perfect Solution. Rinse and let dry. Repeat with acetone, but the soak should be longer. Sometimes overnight. No rinse required here. Let them dry, then add one drop from a needle oiler to the inside edge of the bearing race. Bigger bearings can take two. It doesn't really matter, even though many will tell you otherwise. The excess runs out in short order. Once your done there, reassemble the reel. Gears get a tiny bit of grease pressed into the teeth. Leave the drag pads and washers dry and clean. The engagement kick plate, and other parts that move around the yoke posts get a bit of oil. The yoke and pinion get grease. The worm gear can get anything you want. I prefer oil, or ATF. They don't attract dirt as much as grease. Knobs get oil, unless want buttery smooth, the pack them with grease.
If that scares you, send it to Mike at DVT.