While working with this stuff, removing it is not a problem, but I was wondering if it might interfere with some of the lubrication. I would think not if the heat melts it away. I replaced the crankpin, race and conrod, and was tempted to leave the Cosmo on the race. All other parts were cleaned from the Cosmo, but the cage would have benefited from leaving it as it was sticky stuff for the bearing rollers.
Hi Henri..The problem with it is that as it warms up it becomes liquid..it could then be carried anywhere in the engine. However, when it cools it becomes 'solid' again..that might not be good if it ends up restricting or partially restricting an oilway, or on the seat of the oil pump valve for instance...only a theoretical possibility admittedly...Ian
My feeling is that I'd always want to remove it in order to check for rust or corrosion. It's not impossible that some of these items, many of which were re-packed in the 1950s were already rusty.
I'd also worry that abrasive particles may have become stuck to the grease in storage.