Before I ever heard of "Teflon Tuff", I used discarded nail polish (sealer I think) of my wife's around the axle holes and then gave them a couple of top coats of "Paint On Graphite". Not sure it helped or not, but we put a couple of coats of the paint on graphite on there and a couple of other places. The stuff dried pretty quick. I felt comfortable using it in a graphite required Scout race.
Now that we use nail buffers to clean razor wheels and some people use nail dryers to accelerate the bore wax drying out process, there does seem to be a real trend !