Phil,

I have battled this for years with different kinds of rests. The last rest I shot sounds like the one you have now, or close, so I put a little vaseline on the 3 prongs every time I notched a hunting arrow while in the stand. This wasn't fail-safe, it still squeeked a little. I then cut very small strips of moleskin and covered the three prongs, and it did away with the noise but I constantly had to deal with the moleskin coming loose.
This year I went to the Muzzy dropaway rest and thru one season I can tell you that this thing is noise free and also mainteneance free as well. This rest also improved my accuracy tremendously. It eliminated any fine tuning to the bow, and I shot really tight groups even at the 40 yard mark which is something that I usually never have done before. No need to worry about fletchings or vanes aligning up or clearing the rest, no slight arrow wobbles, etc.
I know that with only one season's use with this rest I cannot give you a longterm outlook about it, but for now I couldnt be happier. It is probably the ONE accessory that I have bought that was the biggest bang for my buck, except for my Parker 35, that is.<img src=icon_smile_big.gif border=0 align=middle>

Good luck,

GB

Smack 'em where it hurts!