Your rear axle setup sounds about spot on. With the quick release type bearings, slackening the pinch bolts allows the bearing to align itself with the axle.
If by "bearing lube" you mean WD40, you'll be facing the same problems as those removing all the grease. At speed, the bearings will begin to chatter, causing increased friction, increased heat and increased wear. Properly greased bearings, at speed, have lower friction, lower heat and lower wear.
You basically have a choice of believing engineers and bearing manufacturers and leaving the grease in, or pitlane psychobabble and removing it.
Once you can feel the wear (usually by lateral movement of the axle), replace your bearings with new ones. 30mm axle bearings are cheap enough to replace on a regular basis. 50mm bearings less so, but still inexpensive relative to other items.
Ensuring your chassis is straight and all bearings fresh (stub axles, track rod ends etc) will ensure you kart feels "as new" almost all the time.
Dave
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