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The guys at the IP overhaul shop say metering valve in IP problem, probably due to water or corrosion. The pump is fairly fresh but I do have to admit I haven't been as vigilant on draining the water. Anyone have any experience with this?
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By your symptoms I bet the shop is right on the money. When the spool valve and it's bore are scored, a lube additive isn't going to help, it can't smooth out the rough mating surfaces. The IP shop will replace the metering valve and hone it's bore smooth.
As far as additives, if you check with any name brand fuel bulk plant, they'll tell you the refineries have been adding a lubricity additive since way back in '92-'93 when they first lowered the sulphur content and they still do so to this day.