I'm no enginerd but I do have to work around them. Proper torque spec is very important, as you mentioned (Ithink it was you) it's the amount of stretch that is induced into the fastner that provides the proper clamping force. This is not as critical on say a wheel stud as it is on a rod bolt. True you don't want your wheel to fly off, but deforming the wheel by a few thousandths of an inch is not critical like it is on a main stud. Personally I do use a torque wrench on my wheels, more so to insure that I do not over tighten them and snap a stud, than for any other reason.

 

My approach to this is, I want equal, consistent torque on my lug nuts. A dry, slightly rusted stud will not allow the nut to tighten without some amount of popping as you get close to the proper torque specs. If they are new studs this will not be the case. But some where down the road the stud will rust and you will not get accurate torque reading from your wrench. It will show a higher torque rating than it really is and the clamping force will be lower. The torque applied will be inconsistant across the studs and this can lead to warped wheels and rotors.
I autocross and change wheels regularly and I do add a dab of antisieze on the end of the stud threads. Let the lug nut spread the lube as you tighten it. None on the lug nut. I want the nut to be able to spin on the stud freely and have no lube between the nut surface and the contact of the wheel. You will get consistent torque readings this way. A good wire brush cleaning and a dab of lube can last about 6 months.
My Haynes Repair Manual has listed the torque specs for the lug nuts between 85-105 ft-lbs. So I torque mine to 85, cause of the lube.

 

Are you asking about all bolts/studs in general, or just wheel studs?

I wouldn't even think about building an engine or anything else without some type of antisieze, especially, as someone mentioned, when you have aluminum involved...

I don't use it on wheel studs, just because I'm paranoid. Maybe not the smartest thing, but if you're doing anything else I would definately recommend a good antiseize or threadlocker, depending on the application... and of course a torque wrench...

I too generally use a torque wrench on my wheel studs, but with no lube... Just keep them clean, if they start looking bad they get replaced...

 

i use anti-sieze on anything i see fit. Even on one of my birds, i smeared a little bit on the face of my drums when i put the wheels on, because i had a problem with the aluminum corroding to the drum.

As long as its torqued properly, i see no problems with it.