hmm, I too would be interested in knowing how big an issue this is. Just got my fed 2 (I _do_ like my fed 5, but the fed 2 just feels soooo good) and the Industar 26M has oil on the blades.
It actually has dust allover and is in an overall crappy condition, and I didn't by the camera for the lens anyway, so I was going to experiment with it by taking it apart and relubing it before I try such an operation on my very nice I61L/D, but I would still want to know if the oil will in any way affect image quality.
regards
Indriði
-edit-
fidged beat me to it - thanks