1. Recondition it. I did some research and found an ad for a guy in Pennsylvania that had several nice reviews about his work and also has very reasonable prices. If my lube fix doesn't hold up for long, I'll send it to him.
http://www.thesamba.com/vw/classifieds/ ... id=1043541
2. Lube it. This is the road that I chose. It was a simple procedure that took about 20 minutes. The first thing I did was remove the speedometer cable and take reference picture to aid in putting it back together. Next was to remove the wiring. Two screws hold the speedometer in place. A gentle tug will break the seal between the dash and the rubber grommet on the face of the speedometer. Removed the speedometer through the trunk area and placed it on the bench. About 5 drops of 3in1 oil into the hole that the cable goes into is all that it needed. I took a small wire to work the oil down into the shaft and let it sit for about five minutes. Installation was just the reverse process. I took it out for a drive and was happy to hear that it worked well. There was no hint of the old noise.
Here's the picture I took.

Here's the 3in1 oil..

Hope this helps someone. I'll try to update the post if the noise returns.
Herc