JohnB, thanks for the reply. I'm a little confused here... The bearings I purchased are fully shielded, enclosed. I actually wasn't able to get the OEM ones (SFK I believe they were) but ended up getting Nachi, which I understand are very good quality. I don't plan to open them up, if that's what you're saying.
I'm asking specifically about the grease that was found on the bottom base plate, in the bearing notch. See picture here for a visual of what I'm talking about:

I am guessing that the original grease was applied to prevent rubbing between the inner ring of the bearing and the base plate during operation, but that's just my guess. (This is the first time I've played with an electric motor.)
Is it necessary to re-grease the baseplate notch? If so, what is a good hi-temp, hi-quality bearing grease? Would something like this work:
http://www.directindustry.com/prod/skf-...27714.htmlIt looks like the original grease is thick, reddish in color. Does the SFK stuff linked above have the same color/consistency?
Thanks!