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On a CARC bike, #1 is inspect and grease the swingarm bearings and the bearings in the shock linkage. Not much to do with the u-joint and shaft.
I first had mine off at 90,000 km and the splines were dry. I did it again at around 200,000 km and the grease was still surprisingly good and I could see no discernabwear in the joint, but it cannot last forever.