In one of the Tricks of the Trade, Theo van der Schans wrote about using graphite to make his power tool surfaces smoother.
This is a great trick but not one I would use for woodworking. The graphite can easily get into the pores of the wood, thus making finishing a bear. There are several aerosol products that will do the same thing. Some other alternatives include a light coat of floor wax, or polishing the surface of the tool to a high gloss using a process similar to blade sharpening.
If graphite is to be used, it should be used only for dark woods where its appearance is minimized. For light woods, sprinkle the machine’s top like a baby’s bottom with baby powder or talc.
There are all sort of products on the market that will make your machine tops slick. When using them however, it is extremely important to remember not to use products that contain any form of silicon and/or grease.
– Phil Rasmussen, US Army-retired