Everything, and I mean EVERYTHING on my 1911's get soaked in CLP to clean and lube.
Then I also have a med-thin oil and a thick oil for lubeing critical areas. CLP will dry off very soon, but leave most of it's rust protection behind. But dryed up CLP is a poor lube by itself.
Thick, oil maybe 40wt engine or ATF/STP/and some grease mixed in:
-disconnector bump
-fp safety bump (series 80, Kimber custom II etc.)
-outside of barrel
-FLGR if yours has one
-rails
-barrel bushing, to reduce wear
-and a little on the ramp to protect it's polished finish.
By now your hands should be covered in oil. Rub it into the outside of gun to prevent rust. Wipe dry for carry, leave wet for storage.
When In doubt I overlube. Too much lube attracts dust and grit, but that's fixed by regular field and detail strip intervals. The gun will usually spit out excess lube when you check it's function after reassembly anyway.
I use thicker oil, so it stays in place, won't evaporate, and wont drip into the barrel. I send a patch soaked in CLP regularly down the barrel to prevent rust.