No... vaseline will damage the plastic over time.. I found that out with my X45. It will also void my warranty.
Moneyguy, I'm glad to see you solved your problem, but your post is mostly useless. If I wanted a CH, I would have bought one in the first place.
Fuseman.. good idea, but I'm going to try some silicone lubricant, per recommendation of the Saitek guys. I brought home a bottle of "Sil-Glyde" brake parts lubricant from work.. it's safe for plastics and rubber.. so I think it'll work fine.