Join Date: Jan 2003
Bikes: Bianchi 928, Bianchi Pista Concept 2004, Surly Steamroller, 1998 Schwinn Factory Team Homegrown, 1999 Schwinn Homegrown Factory, 2000 Schwinn Panther, Niner EMD9
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Going on the assumption (uh oh) that the OP is talking about the Shimano PD-M520 pedals, that's a good start. Don't go nuts with the hose, use a light oil (tri flow is decent enough, some like wax lubes for this sort of thing) on the pedal mechanism itself, and grease the spindle threads. Bust out an old toothbrush if you really feel like getting 'em clean. Use common sense and you'll be fine-there's nothing too exciting going on with those pedals.