I read somewhere that a product called "Krazy Grease" can be used for pretty much anything including drum lug screws. I emailed the company and the guy that answered me is a legit drummer. Long story short, I bought a tub of this grease and it works like an absolute charm. You put a little bit on your screws and work it in with your fingers, wipe off and it leaves a thin film coating on the screw. Shouldn't ever need to lubricate again. It doesn't smell like grease either. When I was done I had a lot left over so I gave it to my buddy for his boat trailer bearings. He swears by the stuff.