Josh, I use the Teflon spray because I use it for my guns, so I have it around all of the time anyway. And the grease.......with 3 boat trailers, it's around all of the time too, in the cabinet in the garage. I guess one could consider these products as "multi-tasking". I can't see buying something else if I already have something that will work. And i do have transmission fluid in the cabinet that I could use.
One thing I've noticed about the Teflon spray. It doesn't drip. I think it's called Hoppe's Dri-Lube. And spray graphite is also another dry good lube.
If transmission fluid will work, will power steering fluid also work? The big difference in the two is that transmission fluid is designed to a higher temperature environment.
Bob