Just to clarify, ljbike's instructions apply to the pedals, not to the cleats. Injecting grease into the pedals needs to be done something like every 3000-5000 miles.

As to the cleats, mikey suggests more or less what I have been doing. Some kind of "dry lube" very sparingly put onto the springs should do (I've been using Pedro's Extra Dry). I've had my Speedplays only a short time too, but my feeling is that the cleats should be inspected regularly. If they seem to lack some lube, then I put a drop on.

Enjoy your Speedplays. I am already a convert.

Cheers!