Old grease can develop a glue-like quality, which is what the problem seems to be here — the grease in your hinges has deteriorated. Old grease can bind to an extent that is truly remarkable. I saw it on an OMC outboard motor (another of my hobbies) a couple of years ago, where the throttle advance plate had more or less to be struck with a hammer (not a good idea!) to move, whereas the action should have been buttery smooth and fingertip. The old grease, once the flywheel came off so as to access the area, worked almost like contact cement. The exposed parts, which are meant to slip lightly over each other, had to be pried apart after being treated with a solvent. Once cleaned and regressed, however, all was well.
PBBlaster (which stinks mightily for several weeks, by the way) presumably has served jeremywork in this instance by rejuvenating the old grease, to some extent or other. It is a solvent, so it will presumably penetrate whatever grease was used in PowerBook hinges. Pretty much any creeping oil should have much the same effect. Though in an ideal world you’d really want to clean out old grease so as to re-pack with new, that hardly seems possible with a PowerBook hinge, so some sort of oil is probably your best bet.
The same problem of grease turning to an adhesive seems to affect old hard drive bearings. I have occasionally managed to revive failing drives, and address noise issues, by adding a small drop of light machine oil to the central bearing. Some drives actually have a screw allowing access to the bearing, making this operation easy. I haven’t yet witnessed a failure obviously attributable to this small surgery.
A small note: standard WD-40 is not a penetrating oil, or even a proper lubricant, but is technically a “water dispersant.” If you use it, it will in time gum things up again. Mightily. There do seem to be WD-40 penetrating oils, but I would avoid those and opt for another product personally.