A normal sealed bearing headset has a cup and a cone and the bearing unit sits between them. A Chris King headset has the bearing as part of the cup. Upshot being that there is less room for play between the bearing and the cup/cone, and therefore a Chris King headset is far more durable than others. I was told to expect one to last the life of the bike.
Oil is good, grease is better.
2007 Peter Mooney w/S&S couplers/Terry Butterfly
1993 Bridgestone MB-3/Avocet O2 Air 40W
1980 Columbus Frame with 1970 Campy parts
1954 Raleigh 3-speed/Brooks B72