Reddit reviews Pennzoil 7771 707L Premium Wheel Bearing Red Grease - 1 lb. Tub
We found 1 Reddit comments about Pennzoil 7771 707L Premium Wheel Bearing Red Grease - 1 lb. Tub. Here are the top ones, ranked by their Reddit score.
Protects against the heat generated by the heavy brake loads of vehicles pulling trailersExcellent extreme pressure and anti-wear performanceResist wheel bearing leakage at high temperaturesHighly water resistantOutstanding high temperature wheel bearing performance
that bike's bearings are likely in great shape, but dry. the original schwinn bearings are better than any modern (chinese) replacements you can buy, other than NOS schwinn parts found on ebay.
i think the biggest problem you're going to have with that particular bike, as a novice, is the brake and derailleur removal, replacement, and adjustment. not impossible, but they can be problematic.
the best way to clean the bearings before repacking them is to soak them overnight or longer in a can of carburetor cleaner. then pack them with actual wheel bearing grease.
schwinn-specific tires are required. tubes are interchangeable, but tires are not.