Well, how thick is a film of grease? I always grease axles before I put them through the wheel bearings and center collar and those are a close fit too, they come out years later still slightly greasy and rust free. So I'll say yes there is some space around the pivot bolt to work with.
I just took some hardware and the rear brake stay out of the murky Evaporust, after less than 24 hours they're perfect, this stuff is still working fine on small parts. I carefully gave them all a coat of CorrosionX and set them on a paper towel like the other stuff earlier.
I repositioned the battery box which is coming along wonderfully, and repositioned the center stand too. It's not coming along very well, I'll wire brush it again tomorrow and put it back in.
And I stripped down the rear brake carrier and put the arm, spring, cam and shoe springs in for an overnight soak. The fork ears went in too, I'll flip them over tomorrow.
I'll clean up the rear brake shoes and brake plate under running water tomorrow and give the surface a good scrub with toothpaste and a toothbrush like I did with the wheel hubs.