Hi There and welcome to Chevy Chatter II!
The first thing you need to do is to purchase all of the literature you can on your car. You will need a shop manual, an owner's manual, the 1929-32 Chevrolet parts book, the Fisher Body manual, the complete set of 1929 Chevrolet Service News (12 issues) and etc. All of the above are available from the Filling Station in Lebanon, Oregon.
The shop manual gives you detailed instructions about the rear end assembly. Also, the propeller shaft bushing is lubricated by the oil in the "U" joint ball retainer. There are cork seals at each end of the axle housing to retain the oil in the housing. All of the above should be replaced.
Good luck with your project.
