I would use NON-detergent 30W oil. Since it doesn't spin at anywhere near a spindle or bearing speed the oil should not be a critical factor.
I would assume the model you purchased should have a backlash adjustment built in.
Look it, and your manual over carefully. It may have a rotating cam action on the hand wheel body that's locked by a screw.
"enco rot ???ery" I assume this was meant as humor?
If not, and your not happy with your purchase, I would recomend sending it back and searching for something better. Even if you need to wait for available funds.
Life is too short, don't waste your time on dissatisfaction!