Momentum of the SYSTEM is conserved unless some outside force acts upon the system (friction, air "resistance", etc) in absence of any outside force/torque, the ideal pendulum shouldnt slow down. Because there is conservation of energy, as you described, from PE to KE and back...
Doesnt whether it "slows down" depends on the distance from equilibrium(spring)? In a free swing pendulum, as the bob reaches the highest angle (max displacment) velocity slows to zero, thus the change from KE to PE. I'll break out real thinking in the morning.
At least that's my rationalization. But I'm so burned out I could be completely BSing.