I decided to do a similar thing over the weekend, as I have a Classic and Classic II with floppy drives that were gummed up.

I used the wiki on this site to take apart the drives, and clean them up. They now work smoothly, and the disk goes in first time, every time. Only problem is that one of them tries to read a disk, says it needs formatting, and then fails right at the end. So, the mechanicals are great, but now there is some sort of read error!