Bill,
Yes, you can convert your front and tag axle wheel bearings to oil bath. Like Lee said, just change the seals and hub covers to the correct parts for an oil bath installation. Disc brakes are not a problem, in fact my last 2 Beavers came with oil bath bearing and disc brakes on all front and tag axle wheels. However, I only use synthetic oil (I prefer 75w140 but others prefer 75W90), and my Marquis had 165,000 miles with one oil and seal change at 105,000 when I had to change the front brake rotors due to rotor wear, and I never had a bearing problem.
Gerald