Have you ever heard this?

Sirs,
I heard, just the other day, that a little oil in the cooling system is good for the water pump. Keeps it lubricated. Is this true or a good idea?
-A

No, the coolant contains lubricants that maintain the water pump. Oil will just clog the system and cause other issues.

Boy it never ceases to amaze me,where do they get these ideas?

If you have a problem in your plenum and PCV but worse case head gaskets.

the bearings in the water pump are sealed, so if the coolant gets to the bearing, the seal is bad and you need a new water pump.