Those things work fine for a simple tune-up. But, they don't fit all bikes, only typical steel frames of 1" diameter (possibly 1 1/8"). Aluminum is usually a larger diameter. And carbon could be a funny shape. You also have to watch out for how the cables run around the bottom bracket - some configurations may not work with the stand.
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