From the 16 years i have been doing rc racing the best thing on the market is LAZY GOO
I use a cotton bud to smear it all over the servos except the servo spline;
I do all my receiver Except where the lugs go
I also go round my receiver box and lid them makes it all airtight and waterproof
I have had no issues at all by using the Lazy Goo and found it brillant.
http://rclazy.com/shop/lazygoo/