uziel answered 1 and 2, but for the lube, hater sauce is the reccomended lube from FEP. the manual says dow 55, but that has proven inefficient compared to hater sauce. hater sauce is reccomended, but many other lubes work just as well(ie dow 33, slick honey), just try to avoid dow 55.
next the noise is normal. within the first 10 cases put through it, you can begin to lower the lpr and in turn reduce noise. but dont do that until it has been well broken in. some quests are noisy, others are not.
and no, you do not need to "balance" the regulators.