Steve, it may work well, but grease is sticky and it may take dirt. Instead Dry Teflon is anti-adherent. Also grease may experiment changes over time so it has to be later cleaned and replaced, while teflon is chemically stable and very permanent.
The most suitable lubrication for common photographic gear today consists of dry high tech teflon of
micro/polarized praticles
type:
https://www.youtube.com/watch?v=ZBXoFp6qXBM
This includes threads, guides, balls, aperture rings of view cameras, enlargers and lenses... Even some shutters (not all) can be perfectly lubricated with only this modern product. Dry teflon substitutes with clear advantage many old lubrication products, single problem can be cost for applications where we require industrial amounts.
Be careful ! a lot of teflon lubricants, even some expensive ones, are not polarized, with way inferior performance !
In some applications an specialized grease can be better, it is the case when damping is required, an specialized product is Damping Grease that it provocates a high friction for higher speed and a low friction for low speed movement, a classical usage is in microscopes.
...but for general lubrication exposed to air/wheather today Dry Teflon (Micro Polarized type) is considered the clear superior choice: Very permanent, penetrating, highly hydrofuge, atoxic, inert, very low friction, and it always expels dirt from contact surfaces, so in many cases it does not require cleaning or disassembling. The included light solvent ensures penetration and cleaning, you move the mecanism and the solvent cleans the inner contact surfaces, while it transports the teflon to the very inaccessible places, then the polarized particles form a consistent layer. Then solvent evaporates and you have what you want. It is important to make the mechanism work while solvent still has not evaporated as this removes the ancient lubricants with the dirt. Also dry teflon works in an ample range of temperatures with no changes, from freezing to frying pans,
while greases have creative behaviours in those ample ranges.
I don't say that from theory, but from having faced very challenging lubrication situations in industrial enviroments and having asked specialized consultants.
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