Lubrication
1. Use dry lube, i.e. powdered graphite, only. Oil damages the paint and collects dust. I'm told that the graphite works better than the new white Teflon. Pure graphite is not toxic; however, follow all safety handling warnings that came with anything you purchase.
A note of warning: Some manufacturers may classify their graphite powder as a carcinogen if it contains trace amounts of silica, while others may not. In either case, use common sense not to breathe in the dust.
2. Break in the wheels by spinning them with lots of graphite.
3. Put a small drop of white glue where the axle goes into the car body and put powdered graphite on it there. That causes less friction if the wheel should rub against the car body.
4. Other than the good polishing of the axles, dump the axles and wheels in a ziplock bag with some graphite and shake them for a few days prior to the race. That way the wheel and the axles are as slick as can be.
5. Right before turning your car in at registration, fill the wheel wells with graphite and cover with stickers like a hub cap. You can paint the 1 inch stickers in a contrasting color. It looks great!