So when I got home and thought about it, I remembered that I had always had a real high opinion of BreakFree CLP with regards to maintaining my firearms, so I went and pulled out my sidearm kit and pulled out my mini-bottle of BreakFree..

.68oz bottle of BreakFree CLP...
I figured I really didn't have anything to lose, so I put a bead of lubricant on the inner edge of the bezel at the joint where the crystal meets it. I put a bead from 12 o'clock to 2 o'clock, from 4 o'clock to 6 o'clock, from 8 o'clock to 10 o'clock. Then I used the backing from a peel off label (in my case the otherwise discarded backing for one of my Brother P-Touch labels) and started working the lubricant down into the seam between the bezel and case... Once I worked in some of the lubricant, I started working the bezel back and forth. With not very much effort, I could feel the lubricant start to work on what was causing the rough and ragged movement of the bezel, and with more working back and forth, it quickly lessened and soon was completely smooth throughout the entire rotation of the bezel in either direction. I then wiped off the excess oil and carefully cleaned the watch using an old but clean T-shirt and Q-Tip's (Cotton swabs).
In fact, if I have any criticism of the Bezel as it sits now, it that it is too easy to accidentally brush the bezel and have it move unintentionally! It rotates so smoothly it's not terribly far from being able to spin!
So, to sum up... I used BreakFree CLP, which Cleans, Lubricates and Protects, according to their advertizing (and I'll attest to it), I don't know if "White Lightning" or other products would have done the trick or not. I used a certain amount, you might be better off using a smaller amount at first and ramping up with more lubricant as needed, as if you use too much and there is any leakage between bezel, case and crystal some might get into the movement or on the dial. Which would likely not be desirable.
I hope this is helpful!
Cheers!
-- Chuck
P.S. I should add that BreakFree CLP typically ships with a tiny Straw like applicator which can be affixed to the outlet of the dispensing cap. This allows one to very precisely control the amount and location that any lubricant is dispensed. Be sure to use it if you're going to try this method.