Mike,
Having been a satisfied user of Mtroniks ESC's for many years, I'd first check that the drive-line (from motor to prop) can turn freely. Ideally you ought to be able to (with no power to the RC of course!) rotate the prop using a finger tip on one blade with no significant effort. In fact you ought to feel the resistance as the motors poles move past the magnets.
If not then locate were the "stiffness" is, as others have suggested misaligned motor/prop shafts, poor coupling and not enough free play in shaft due to badly placed lock nuts.
As for grease in the prop tube, I try to avoid it as it can create a lot of viscous drag between the rotating shaft and fixed tube. Oil, with a properly adjusted drive line works for me, even in my submarine models.
Also a thought, although perhaps not the cause of this problem in this case, a 40mm diameter prop might be a shade too large for this motor and direct drive?
Glynn Guest