Dial it so you have normal idle with full advance. When you get crisp response  from dialing the needles, adjust idle revs with the butterfly stop screw. When you want really low idle say when you want to shift into first gear, you retard the ignition fully. With a warm engine, healthy magneto, fine tuned, the motor should run fine at very low idle with fully retarded ignition, but it is weak and can stall easily.

Running the engine for a long time with very low idle is not good as the cylinders is at risk of not getting enough lubrication.

Normal is to ride with full advance, but you have to be sensitive in hot weather or low revs with high load, up hills and such and reduce the advance a bit in order to not overheat the engine. Riding fully retarded can as example be used braking with the motor downhill.

A good choice is Heavy machinery or Marine grease with a lot of stickiness, rust inhibitors and water repellant for the bearings. In the hubs inevitably it will be some condensation moisture and head bearings are semi open to the enviroment. (Smear the inside of hubs and axles with a coat of grease)

For the front links and really most all other grease points on the 101 it is  steel shaft against steel bushes and that has different requirements compared to bearings. Extreme pressure (EP) performance is needed for the vibrations and slow movement in those joints. Some solid lubricant innit will protect even if the oil film breaks down.

Here's an example that might suit both requirements, but molybden and graphite -damn good but damn dirty and will soil everything.

http://www.skf.com/group/products/lubrication-solutions/lubricants/high-viscosity-grease-with-solid-lubricants/index.html

Here's a yellow/amber variant that is particular good for false brinelling that is an issue in Indian head bearings and ball bearing hubs, but also has EP performance. 

http://www.skf.com/group/products/lubrication-solutions/lubricants/wind-turbine-blade-and-yaw-grease/index.html