Cool, this will be fun to watch.
Might I suggest going larger on the pivot bolts, and installing sintered bronze (self lubricating) bushings? They are porous and absorb the lube, releasing it as needed. The larger diameter reduces wear on the bolt - I expect that is a pretty high stress area when the tent is occupied. These are a little too long, but they are easily sawed and filed to the correct dimension.
View attachment 146501
http://www.amazon.com/Bunting-Bearings-FF520-10-Thickness-Powdered/dp/B0040JG3SK/ref=sr_1_1?s=industrial&ie=UTF8&qid=1361817826&sr=1-1&keywords=bronze+bearing+3%2F8+bore
Your local bearing house will have this stuff in stock.
Be sure to add a large area, thin stainless shim or fender washer between the two moving sections, or the paint will wear away fast from chafing. If you don't want to bother with bushings, then for sure use stainless hardware for the pivot bolts, or they will rust.
Good luck on your project!
John Davies
Spokane WA USA
Thanks John. Definitely i will consider this. will post an update i get this into the build.