Thank you for the great idea and the great description.
I have a 1989 Jubilee from my 16233 that I had a goldsmith in Poland overhaul a few years ago because it was stretched too much. The work was good, but it was missing that last bit of "Rolex feeling".
Today I subjected it to the bracelet treatment described. I made a simple vacuum chamber out of a pickle jar and used the air conditioning equipment that I still had.
For this I used pure silicone grease from diving equipment mixed with (less than you might think) isopropanol alcohol. The rest went as described - vent until no more bubbles appear, ventilate, repeat a couple of times. Then I burned about +/- 28 rolls of toilet paper to clean it and gave it a careful bath with washing-up liquid and a nail brush (briefly and superficially).
The result is fascinating - WOW. The old straps always feel a bit "cheap" and rickety, but now it is so soft and "flows" through your fingers. It reminds me more of the Jubilee of my 126234, which is 30+ years younger. The only rattling now comes from the metal of the old buckle. No comparison to the baby oil bath that I usually use.
Many thanks to
@bechtolb for the great idea!