I hate the oil/lubricants and wouldnt use it again if I was paid to. It drips down over time and is messy, gets all over everything (like your sleeves) etc.
I love bug stop/teflon paint, however, and use it on all my reptile cages as well as roach containers. It doesnt smear, drip, smell, isnt messy, lasts a long time, doenst wash off easily, etc. I believe you can buy it at www.blaberus.com, its expensive, but worth every cent.
I dont keep anything under my crickets except a pile of gutload in one corner, and really, they have nearly no odor as well (cleaned weekly) and usually contain about 4,000 individuals at any given time. You certainly can keep roaches w/o a substrate, but they smell a lot worse.