The key to successful cutting with a Keeton is a very clean bar and head. There have been several generations of Keeton Kutters, including the highly desirable after market Hendrixon Head.
There are several old timers (myself included) who still have and love their Keeton Machines. A photo of your setup would allow more accurate commentary.
First of all, remove any blades in the head. Then, check to see that all blades have been removed from the head! Seriously, I know many who have suffered deep cuts from not seeing that one of the blades was still in the head.
Take off the hold down from one side of the bar and slip the bar out of the cutter, and then slide the head off of the machine. Thoroughly clean the head, especially anywhere where the head contacts the bar using Naptha or lighter fluid. In the day, a can of Ronsinol was always at a cutter's side. The bar and head need to be kept very clean. Make sure the roll pins are firmly seated in the hinge and that there is no play in the hinges.
A Keeton Kutter is more accurate when bolted to a table and shimmed under the base to confirm the base is flat. Symptoms of a warped base are irregular cuts in depth along the length of the cut, requiring a deeper blade setting that yields wavy cuts and overcuts. The bar should have a slight bow to it so that it lies flat when pressed. Too much pressure will cause it to bow up in the opposite direction.
If the bar is very dusty, you can use Flitz to clean it, but then you need to wash it well with Naptha to remove any residue on the bar. You also need to be sure that the space between the round bar and the flat bar are free of debris. I use a beveled piece of rag mat to really get in there and clean it out.
The absolute best lube is a DRY lubricant such as
http://www.militec1.com/miva/mercha...ilitec1&Product_Code=1OZBOTTLE&Category_Code= This type of lube bonds to the bar and head to make them slip, yet will not transfer to the mat or to your hands. Do not use a silicone spray or other lube that sprays wet. It is hard to get off and makes a mess. Sorry, Jeff but I just do not agree with you on this one. You need the bar to be clean and dry. Others have used dry chain lube sold at higher end bike shops.
http://www.amazon.com/Finish-Line-Teflon-Bicycle-Squeeze/dp/B000C17HKS
I also like PTFE lubricants like:
http://www.jcwhitney.com/dry-lube-w...T2&zmam=15972153&zmas=21&zmac=165&zmap=16546G
http://www.crcindustries.com/faxdocs/tchdta/149.pdf
A properly cleaned and adjusted head will slide from one side of the bar to the other with just a gently shove.
Depending on your head, you may also have adjustments to assist in rocking from wear. Older original Ketons had no adjustment and if the head is worn, it cannot be repaired without going to a machine shop and having new brass or teflon wear bushings installed. (an easy fix and not too expensive.)
I would not wax the base, but would clean it very well. Waxing it will make the slip sheet slide and may give you inaccurate cuts. Also, depending on the head, you may need to use jacketed #12 no notch blades and crimp the spine with a diagonal cutter to stiffen up the jacket. If you use an unjacketed blade (which will fit) you may get wavy cuts as the blade is not stiff enough and the head is designed for a jacketed NO NOTCH blade. A #9 blade is too thin.
I would also clean and lube all of the measuring devices -but they too need to be clean and dry. Also, use a 4H pencil to mark your mats so you do not have excess graphite on the bar which can transfer to the cut with the blade.
United Mfrs. and M and M Distributors will be good sources of supplies. There are others, such as Larson-Juhl and CMI that also may have what you need.