Most folks use far too much lube when lubricating their firearms. The following explains the proper lubrication of the Steyr Scout and other SBS based Steyr rifles.
While there are all kinds of lubricants out there I exclusively use, and highly recommend, Mil-Comm's TW25B (both the grease and the aerosol) for the Steyr Scout and all Steyr SBS based rifles. You can get TW25B directly from them via their on-line store at www.mil-comm.com or via phone at (888) 947-3273. Brownells also carries it. Quite frankly, in my humble opinion, if you aren't using TW25B you are missing out on a good thing.
The most important things to remember are
Bolt Internals
Disassemble the bolt and the internal parts (do not remove
the lug assembly from the firing pin). Clean
and degrease. Lightly spray all
parts with the aerosol TW25B and allow to dry (about 1 hour or so).
Assemble, placing a very small amount of the grease on the tip bearing
ring, body, caming tips, sides of the lug, and the lug tail ring.

Placing a very small amount of the grease on all the bearing surfaces of the cam.

Bolt Body
Clean and degrease. Lightly
spray all parts, including the opening
in the handle casting with the aerosol TW25B and allow to dry.
Place a very small amount of the grease on the small cam lug on the
handle casting, the sides of the long slot on the body, and the cam areas of the
bolt lugs.

Place a small amount of grease on the end of the casting and if you did not use the aerosol place a very light coating of grease inside the casting as indicated.

Bolt Shroud
Clean and degrease. Lightly
spray all external and internal surfaces with aerosol TW25B and allow to dry.
Place a very small amount of the grease on the bearing rings, the lugs
and the sides of the slot. If you
did not use the aerosol place a very light coating of grease inside the main
hole of the shroud.

Receiver Bolt Raceway
Clean and degrease. Lightly
spray with the aerosol TW25B and allow to dry (about 1 hour or so).
Place a very small amount of the grease all around the receiver ring,
there wear points indicated and the guide inside the receiver.
Reassemble the rifle.
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Disclaimer
As far as I know all the information presented above is correct and I have attempted to insure that it is. However, I am not responsible for any errors, omissions, or damages resulting from the use or misuse of this information, nor for you doing something stupid with it. (Don't you hate these disclaimers? So do I, but there are people out there who refuse to be responsible for their own actions and who will sue anybody to make a buck.)
Updated 2008-12-06