For my '62 heater cable, first I hosed the whole thing down with brake cleaner. REALLY hosed it down. Then I shot it with WD40 and let that soak the wire.
Then hit it again with brake cleaner to remove the WD40.
Then I used simple white lithium grease on the heater cable. Put it on the exposed ends, and worked it back and forth by hand. A LOT.
Also bead blasted the entire duct work, which got rid of a lot of grime around the door, etc. Painted it all and put it back together. Works like a brand new unit.
Brad