There's nothing wrong with lubing a fan to extend its life.
Witness the notorious Asus NB fans-- Spins at an insane default speed of 8000-9000RPMs. After just 1 or 2 months of use, it is going to start making all those godawful grinding noises. Sorry guys, but I ain't replacing my Asus NB fan every month.
For something like that, if you don't want to replace the stock part for whatever reason (one major one being that all NForce 4 boards have their NB fan in an incredibly STUPID location, right under the PCIe slots), you have no choice but to do periodic maintenance on the fan. Take it apart, clean off the dust bunnies, and lube the spindle.