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After looking around and talking to one of the Cabelas employees who fixes reels here is what I decided to go with… Very similar to Hot Sauce except it has antifreeze included. They don’t sell it at Cabelas but I think they do at Fleet Farm.
http://www.fishusa.com/HT-Enterprises-BluLube-MultiPurpose-Lubricant_p.html
“Blu-Lube” is some good stuff. I thought the stuff was not avaliable any more, maybe I was shopping for it out of season. I did find the last 3 bottles a company had and used less than one of them. Make sure that you store what ever you use it on is stored in your freezer during the summer because it will seep out of the smallest cracks. Anyway it is the best lube for winter fishing.