Don't bother with lubing the shaft. It will take longer to get the lube in there than the lube will last.
While I can't say for sure, I'm pretty sure the shaft runs in an Oilite bronze bushing. The application doesn't justify a ball bearing.
If you have a good used fan go ahead and use it. The first one lasted nearly 30 years, the next one may still have a number of good years left in it as well. I have an OEM fan in my RT that has 92,000 miles on it and it still works well.
The advice to install a manual fan switch is good. Put one on your bike and use regularly.