Crawdaddy – maybe. I think you will find you are in the minority on this one.
I have had great luck replacing the felt washers on every small spinning reel I use for ice fishing. I have found that the lubricant is probably the key issue, but the felt washer absorbs the higher temp lube and if you are going to replace the washer as you add low-temperature grease – may as well go carbonex washer too.
In my experience, I am not so sure any grease (lubricant) is necessary with the carbonex washers.
I now have about a half dozen Shimano 500 reels. If you throw them in a freezer for an hour and then pull them out … you can tell the difference …
Now if you only fish in warm ice houses and let your reels come up to temperature … I would agree – no need to change.