Glad that BrickGlass has been successful with the piezo, I'd always been wary of recommending myself. Like he says though, don't put a whole lot on there, use the minimum amount necessary (a little goes a long way).
I used to lube knife edges but stopped. There is no sliding motion on the knife edges, it's a pivot/rotation about the contact point of the knife edge so there is no sliding friction to overcome. (On vintage strat-style six screw bridges, lightly lubing the smooth part of the shaft of the screws is helpful however.) Besides, over time the goop attracts dust and grime and needs cleaning so I'd suggest using pencil lead if you really want to lube the trem posts.