I have what I think is the EZ lube system on my single axle trailer. It pumps the grease through the bearings and pushes the old grease back out the front. About once a year I add grease and just wipe away the excess old grease that comes out.
I have been using that system for at least 10 years without any problems. I like it because it is very easy to maintain. I just pop the rubber cap off, pump in grease, wipe off the excess, and reinstall the rubber cap. I see no negative aspects to this system.