Yeah, wheel bearing grease would work in a pinch. You could also use petroleum jelly as well. They do make special stuff for that. Its called Distrbutor cam grease. I have a tube of Neihoff grease in my toolbox thats probably about 45 years old
many, many years ago when you purchased a set of points you would get a little packet of grease with them. don't ever install them dry if you can help it.