hi john,
you need a grade that is suitable for higher superheat if you have radiant superheaters. the 'lighter' stuff ive got is actually a more refined grade… shell valvata i think though its quite an old 5 gallon can and i will need to check what it says on the can! if you go to a preserved railway they have different grades of steam oil for different types of locos… saturated (non-superheated), superheated, and locos working on the mainline at much higher speeds.
there is a certain theory that steam cylinder oil isnt suitable for gunmetal cylinders with bronze slide valves and pistons and soft packing… though i must admit ive always used shell valvata on my locos of this type with no adverse effects.
it is worth checking what grade of oil your club order.
main point though is that none of the different grades have any effect on the working of the sight feed hydrostatic/displacement lubricator.
my late grandpa started his working career with ESSO at one of the big london depots in the 1920's, and even when in his 90's still had an encyclopaedic knowledge of all the different grades of oil supplied to the railway companies at that time, together with subsequent improvements in oil manufacture for the superheat grades.
cheers,
julian