It will be 4 years this year I have been doing it, I have not had any adverse affects that I can see, I use engine oil about 1/3rd of a small cup.
If you think through the issues it is probably the drying out of the salt water on the bearing face when lifted out that generate crystals of salt adding to the friction.
All I can say is it works for me.
Odysseus
Bav 38