While i have never tried this specific application, if you are having a problem with friction / drag on the motor, why not use the slipperiest substance
known to man?
Tufoil has 11 World patents and is also listed in the Guinness book of World Records as being the "the slipperiest substance known to man". It combines Teflon with other additives to achieve a lubrication factor that is "slipperier" than Teflon can achieve by itself.
Never used it to lubricate TT's, etc.... but i have used it inside of car engines. It works as claimed as far as i'm concerned. The only "oil additive" that i've ever used that actually gave me very measurable gains in gas mileage. As a side note, i've had oil analysis performed on several different motors and was already using what i've found to be the best oil on the market. As such, i wasn't counting on this stuff to "band-aid" deficient lubrication qualities in a cheaper product.
One thing though. This stuff is pretty thick, so it might be tough to use it in this application. I would imagine that if you can apply it in some manner, that the benefits of having such a lubricant with the associated reduction in drag might be beneficial. Especially if you've already got bearing related problems. Before doing so, i would do my best to clean out the existing "grunge" in a non-harmful manner. No sense in trying to reduce friction when the source of the friction is still running rampant / going to dilute the results of what could be a possible solution Like anything else, proper preparation can net better and more timely results. Sean