No lubricant of any kind... gums up the works. You have to remember that these are a magnetic driven gauge. The gears are only for the odometer section.. Any lubricant on the magnetic mechanism makes them inaccurate.
Another thing to remember is to make sure that there is some end float between the speedo cable (the inner part) and the part of the gauge it inserts into. if there is no play, or worse, it's tight... it will bind up and damage the gauge... quite possibly to the point it cannot be repaired. That's what the rubber o-ring supplied with new speedo cables is for. It fits between the cable sleeve base and the gauge so that there is a little end float on the cable.
When you get the gauge back from British Speedo, they'll include a set of installation instructions that basically repeats what I just wrote.