I just recently tackled this project last June on an '87 240 that we refit with a '84 B23 with an M47 mated to it (long story, I'll explain later). Anyways, I greased the shaft splines, the pivot points, and put just a tiny (very thin) film of grease on the contact surface where the throwout bearing contacts the splines on the pressure plate.

When you grease the shaft, I would encourage spending some extra time cleaning it (get it really clean). When I greased it, I put grease on the splines of the throwout bearing and the clutch plate, rather than just coating the entire input shaft. This way, I didn't have a lot of extra grease running around the shaft that could potentially get thrown off and end up on the clutch surface, but there was ample grease where it's needed. I used Mobil 1 synthetic grease, and I'm not sure if this is more or less viscus than the grease pack that came with the Sachs clutch.

The clutch kit that I got from FCP Groton was great! -but it lacked a pilot bearing. I had two dead/toast pilot bearings on hand and I was able to force one of them to turn with a pair of pliers. I peeled back the seals on the bearing and stuffed it full of Mobil 1 synthetic grease, and then packed a little bit more behind the bearing in the cavity of the crankshaft. So far, it's working ok. -but the next time I order a clutch kit from anybody, I'll make sure that I get a pilot bearing!

God bless,
Fitz Fitzgerald.
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'87 Blue 240 Wagon, 247k miles.