Consider eliminating the grease and o-ring. Substitute a wave spring washer or light bellville for your tension. The nylon or similar running on smooth hard metal will slip wonderfully without grease. The grease will get sticky and collect crap. Hard smooth flat metal.... hard nylon... hard smooth flat metal and tuck a wave spring or the like between two of the steel plates or the backing or whatever to keep tension on the stack.
Good luck,
Bob