I wouldn't use car engine oil it is not safe for some plastics. Especially if there is any chance of getting oil on motor armatures.
Oil leaks from car engines into starter motors and alternators ruins them by softening the insulation on the motor windings causing them to short out.
Not that I have seen, As TBG said, some Nelsons used the tenders from S15's which where replaced by watercarts were their bearing problems would be less of an issue.
My ECM motors still run fine, used them mainly because they where available with a bracket for X04 replacement in kitbuilt locos that used X04 motors, with 40:1 gearing good low speed control in my freight locos.
The V2 was annouced at least a couple of years ago as a new body for the previous upgraded chassis, the announcement this year is a renouncement that it it will be all new including the tender.
Yes, the Hornby Peckett is a masterpiece in design.
It is a filtrator fitted to the docks engines to help combat the poor water quality from the docks supply.
I bought one, only because they are cheap at the moment.
Not really any problem with the yellow ends just a bit of overspray into the grey at one end but hard to see with the naked eye so I'm not bothered about it. But certainly doesn't run as silky smooth as the Hornby 87.