My clutch on my first LS did that, I strongly suspected a slight brake fluid leak from the master cylinder to the pushrod that actuates the master cylinder from your pedal. If you were going to lube it, WD40 would not be the best idea, because the end effect of WD40 is that the parts end up drier and noisier than when first sprayed, due to the fact that WD40 is not a lubricant, it is a water displacer. Perhaps some white grease right in the center of the cup that the pushrod pushes on, but now, you're talking partial disassembly and delaying of the inevitable that the master cylinder is going to need replacing. If it could be the pedal pivot bar bushing, then there is hope that a simple spray lube could get in there and do its job without major surgery and expense.
Check out this thread:
http://www.lincolnvscadillac.com/showthread.php?t=25339