The subject of Grako Sprazon has been discussed before on the forum, in this thread:
www.honestjohn.co.uk/forum/post/112154/chevrolet-m...z---
Personally I would not use anything on a cambelt unless it had been endorsed by the car and cambelt manufacturer. The cost/benefit doesn't add up to me. The mechanic I know has always said usually something else gives up first such as a tensioner, so belt lubrication or dressing will make no positive difference. If you use these types of products then it's at your own risk.
If it's concerning you then just get it replaced. It will surely be more desirable to a buyer with a belt still within the recommended service period when you come to sell so you probably would get some of the £500 back anyway. Also peace of mind, how much is that worth?
Is the £500 a VW dealer? If so, you could reduce it by using a trusted independent.
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