Steve, I like the red dot. I had the same sight on a 22/45 several years ago, and although it looks somewhat awkward, it's not.
How often to clean one? I don't know. I don't worry about it. Sometimes I do, and sometimes I don't. Just depends on how I feel and what else I have to do. I'll at least wipe them off because I don't want the soot all over my hands. In the past I have very seldom stripped them down, just sprayed them with gunscrubber and put a couple of drops of oil on the bolt and trigger assembly.
The one I bought was tight, so I sat down with it Sunday morning and stripped it down and reassembled it over and over, about a dozen times. Not only did I learn how to do it quickly, I loosened the parts up a lot. About all it takes now is a screwdriver handle to tap the mainspring back in. The upper/lower just pull apart/push back together. Practice makes it easy.
For lube, I just use whatever I happen to have handy. Break Free, gun oil, three in one, whatever.
For God so loved the world, that He gave His only begotten Son, that whoever believes in Him should not perish, but have everlasting life.
John 3:16 (NKJV)