About this deal
The vast majority of freehubs use one of two different systems – pawl or ratchet – to engage the freehub with the wheel when you’re pedalling, and disengage it when you’re freewheeling. I don't know about your specific lube of choice, but I do know that I've seen people with lube in their freehubs that gets so viscous when below freezing for long enough that it DOES prevent the pawls from engaging so the whole system just spins. As soon as it thawed, everything was fine. Anyone who looked into the drag of a RW with or without the effect of the added freewheel will agree that the additional drag brought on by almost all freehubs is not subtle.
I prefer using Dumonde Tech Freehub oil and their grease, but there are many acceptable substitutes as long as you understand what you are substituting. I'm pretty certain this is one of the most neglected areas of a race bike. It surely does deserve some looking into. The local shop uses a grease that was in a sizable tub, grey in color. Didn't catch the name on the tub however.For brake fittings, since you mentioned it, there are even products that don’t react negatively with the fluid or hose material or bladder/seal material within caliper or lever; SRAM offers a DOT grease to be used with its DOT-fluid based braking systems on the coupling nut.
Dumonde Tech PRO X freehub grease has been designed specifically for freehubs that require a lightweight grease that will stay in the moving parts and provide long term high level performance.Halo freehubs take the multiple-teeth approach to give you 120 points of engagement. Rather than the more usual flat profile, its pawls are wedge-shaped, so that pedalling force pushes them harder against the teeth in the hub.