I have a bunch of PM2's from throughout their history, including 1 that's been carried for 4 years or so. What I'm going to talk about is just the relationship between pivot friction and lateral play. I like absolutely zero lateral play with light friction, but not a completely free-falling blade. That's because I do not want the blade to overcome the detent and rebound open when I close the knife.
PM2's come from the factory in a variety of conditions. Some of them are fine and/or will break in fine. Otherwise, or for experimental purposes, here's what I do:
- Completely disassemble the knife and inspect it carefully
- Lightly stone all the contact surfaces true. Look especially for burrs on the liners at the pivot and clip holes.
- Polish all the contact surfaces up to 1k.
- Polish the washers up to 10k.
- Make sure all the parts including the scales, are completely clean.
- Bolt everything up tight, completely dry.
- I like the pivot and standoff screws to be tight when the friction/play relationship is right, as opposed to having to use differential tightening to accomplish it.
- If the pivot is too tight, take some material off the washers. If the pivot is too loose, take some material off the ends of the pivot.
- Lube does occupy some lateral space in the pivot, but my experience has been that the pivot should exhibit the desired f/p relationship dry.
- Once all the parts are tuned up, lube and assemble.
- Verify fit and function.
- Then loctite the screws 1 by 1, and make any small differential adjustments.
This process has worked well for me on the PM2's I've taken apart.