I have found that when using the modern lubricants for springs,
there's a tendency for the turns of the spring to stick, much like
two panes of glass with water between them.  I have found that #2
graphite (the large size of the flakes acts as little bearings) mixed
with "Lubriplate" works great.  I know that the original mix was with
Vaseline, and have also used this mix with great results.

You can tell if the spring is sticking by listening for thumps, caused
by the spring sticking, and then releasing several turns at one time.

Al Pebworth
Pebworth's Player Piano Center
Home of "Yesterday's Music"
http://www.pebworths.com