Yeah, I'm curious what people use to lube their cams, too.
FYI, if you're going to use a bike lube, Dumonde "liquid grease" is probably way better for this sort of thing than chain lube. It's often used for lubing pivot points on aluminum derailleurs, which is pretty similar.
I've used powdered graphite before for a squeak in my bed, and I find it wears off way to quickly, and it's not very "penetrating."