The first time I cleaned the Mac, I left the floppy disk drive alone. It boots up sometimes, but not all the time. I did some research and a few websites recommended that I should clean and lubricate the drive. So I did, I carefully dusted the interior of the drive and used a bit of isopropyl alcohol to clean. The mechanical components still have visible lubrication. The Mac has no problem ejecting disks.

After all that, the same thing happens, I've gotten it to boot a few times and when the OS is loaded, everything runs great (I guess because everything is loaded in memory). So I guess the problem comes down to the drive or the old disks. 

Would you recommend I try to find some newer floppies and make a new boot disk? I figure I should try that first because it's the cheaper option than finding a replacement 400k drive.