I typically only use a shot of WD40 on the metal to metal press fit parts.  It’s the rubber bushings themselves that tend to squeak on some vehicles over the long haul.  I rebuilt the front end of my ’55 back in ’89 and after 200K miles, those bushings are still quiet.

Lorena, Texas (South of Waco)

should they be installed with silicone lubricant?

SE Wis

For squeaky rubber control arm bushings, a periodic shot of silicone lubricant helps.  While a shot of brake fluid on those bushings was the old school fix, brake fluid is hard on the paint.

Lorena, Texas (South of Waco)

I'm also in the process of replacing the control arm bushings right now on my 56 Victoria. I don't believe they are to be lubricated at all. My concern is the aftermarket bushings that I've received. Poor fit and different lengths than the originals which I assume would affect caster settings. 

SE Wis

I am about to replace the front crossmember  on a 56 Victoria and will rebuild the front suspension during the teardown. I plan to examine , clean and reuse what is good and replace shocks and bushings for sure. While the ball joints and tie rods have fittings for lubrication, I have found no info in the shop manual as to where to lubricate the control arm bushings or the upper shafts. Should I drill the bushings and screw in grease fittings or just grease the shafts and crossmember bolts the the bushings spin on. I did a rebuild on another 56 Fairlane years ago and It was squeaky a year or two later..    George