Don't know about ceramic spool bearings but ...
If want to make the standard ball bearings slickery smooth use Rem Oil. There are other specialty super tune lubes but I've found Rem Oil to work really good ... almost too good. You can get some hellacious backlashes with Rem Oil.
If it's one of the really old reels that has bushings instead of ball bearings then it would be worthwhile to upgrade them.
