I have experience with just about every hoist out there, and yes, there are some points that are indicated not to lubricate because the lube acts like a dirt magnet. Once the dirt is in the lube, it becomes almost as bad as valve lapping compound (!). On those points, I have become a HUGE fan of WD40's Specialist Dry Lubricant - awesome stuff, as it puts down a dry film of PTFE that doesn't pick up any dust and dirt.
The cool part is that you can just about firehose a point to let it really soak in and penetrate, yet it then dries to the touch. Phenomenal on garage doors too.
I saw one dummy I knew back in the day drop his car right off his two post hoist because he greased the heck out of the swing arm pivot points but had previously removed the ratcheting safety locks off of the arms. If he hadn't have greased the swing arms, friction would have kept them locked under weight. He used a tall screw stand to jack up his rear diff to connect up some new rear shocks, upset the weight balance on the hoist, and the well lubricated swing arms moved and down went the car. I was there to witness it - he jumped back right in the knick of time to save his hide (thank God), but his car landed on it's driver's side wrecked beyond any chance of repair. THAT was scary as hell. We looked at each other in disbelief that it just happened, and I wasn't going to say it, but he did: "Shoulda never removed those pesky safety locks"...