Shadrach

 I have never experienced "vapor lock" in my Lycoming IO360 (Bendix RSA fuel system).  I have experienced fuel boiling in the lines after shut down. This symply "pre-primes" the engine for the next start. There is no need to do anything but add air and spark; once the engine fires off, slowly introduce more fuel.

Form what you've written below, I am guessing your advising folks on how to "hot start" a Continental engine.  The fuel systems differ significantly from the Bendix systems found on Lycoming engines. Running the boost pump with the mixture set at idle cut off is useless if trying to start a Lyc with a Bendix fuel system.  Some of the advice you're giving would make starting a hot Lycoming more challenging.

Long Soak:

1. Throttle Closed
2. Mixture Full Rich for about 5 seconds then Idle Cut Off (Be very sure it is fully at idle cut off)
3. Boost pump on (or on low if two speed) for 30-60 seconds. (yes, a full half a minute to a minute)
4. Boost pump OFF
5. Throttle cracked to the point where it would need to be to have about 1000-1200RPM if the engine were running
6. Begin cranking the engine, wait a 2 seconds then slowly (over 5-10 seconds) move the mixture toward rich. Don’t exceed recommended cranking time.
7. As soon as the engine starts, keep the mixture at about that point, adjust it and throttle for smooth operation. You should ALWAYS run the engine as lean as possible on the ground.

2 and 3 above would do nothing and I mean nothing for a Bendix fuel system. On a Continental it would push fresh fuel to the servo and the hot fuel would go back in the tank via the fuel return. 

 Great write up!  However I disagree with the notion that "no internal combustion engine should be operated “slightly” (10-60dF) rich of peak."   While that statement is certainly true of the TIO-540-AF1B and other TIO/TSIO/GTSIO engines, it is far from true for NA engines.  A C model in cruise at 10,500" leaned to peak EGT on the leanest cylinder will have several cylinders in that exact range and will happily run to TBO and beyond when operated that way.

Is it oil...or is it grease? Grease typically comes from herniated seals at the hub. herniated seals come from over-servicing. Oil... :-(  oil coming from your prop is more serious.