Acetal (or Delrin) has high natural lubricity and it's easy to machine to high tolerance requirements. I only use compressed air on the "steam" engines I build so heat would never be a problem. It's good for temperatures up to 172 degrees F so I think it would work as a reduced cost material for graphite and brass pistons and valves in Stirling and flame eater engines as well. Enco stocks it. Thoughts? I'm planing on building the rotary valve two cylinder marine engine.
http://www.use-enco.com/CGI/INPDFF?PMPAGE=902&PMITEM=891-6533
http://www.use-enco.com/CGI/INPDFF?PMPAGE=902&PMITEM=891-6533