Hi Roland,
I never fixed a HP-65 card reader yet, but a bunch of HP-41 readers.
IMHO considering the pinch roller the differences are not that big between HP-41 and HP-65 reader. The silicon tubing has always worked perfect for me, so I suppose a problem with either the motor clutch or it's simply a matter of adjustment.
Try to watch the worm gear and pinch roller gear. Do they continuously keep spinning or do they stop while the motor continues turning. This would point at the motor clutch as root cause. Remove the motor, apply some 2.5 volts to it and try to stop the worm gear with your fingers. If this is easily possible you should have gotten it. The clutch is attached to the motor side end of the worm gear. In the articles forum you'll find instructions how to fix it, some suggest a simple fix with magic glue.
If the clutch turns out to be ok and the card stops while pinch roller and worm gear keep spinning, then you will have to adjust the pinch roller pressure to the card.
The axle of the pinch roller is excentric. By turning it the pinch roller's distance and therefore its pressure towards the card can be altered. Do not make the pressure too high, the card should be pulled through without the motor getting throttled down much or making strange noises. The adjustment procedure is much easier operating the motor from an external 2.5 volts supply outside the calculator. So you don't depend on your batteries' state.
Would be nice to hear from you posting a message when you got it to work.
Regards,
Rainer