Grinding noise and erratic speedometer

I believe I used 3-in-1 oil for the speedometer itself. Graphite speedometer cable lubricant on the cable. Pull the cable out of its sheath, lube it all the way down, but wipe the top 6 inches or so dry because it will wick up and get into the speedometer, which according to what I've read says is not good. Anyway, what I used to lubricate speedometers and cables has held up for years in 3-4 different cars. And these were cars that were making quite a racket before being lubed.