I have a Selectic II that I use now and then. Similar problem. I packed a few paper towels in there and sprayed a fair amount of good (not WD40) lubricant (LPS brand if I recall), let it soak for an hour and than wiped the insides out and removed the towels. It works great. This is not a restoration or preservation, but rather how I got a junk selectric II that I got for free to work wonderfully. Got a new ribbon at office depot too. If there was one thing I would like to do would be to have the platen turned down to level out all the pocks from years of use.