I doubt anyone would win a contest using an air impact wrench and estimating the torque of the tightened fastener. Human judgement is an awesome thing , but not always sufficient. If you think you can put proper torque on a fastener with a free running impact wrench, talk to the tire shop guys about overtorqued wheels, ruined brake discs, hourglass shaped studs and road side emergency flat changouts from going ape sxxx with an impact wrench. The good tire shops use torque wrenches. Applying lubricants is fine, but make allowaces for the torque. I know I know...some professionals don't have time for that stuff.