Take 10 bolts, oil light, torque correct, measure strain, measure error plus or minus,,, take 10 dry bolts, torque to spec, measure strain, compare difference..
we all know the difference between a dry torque and a lubricated torque.
like the 1-1/4" L9 bolts used to hold an A-frame on the bottom of a casting machine. all torqued to right around 1450 ft/lbs of torque, DRY, because that is what the torque for those bolts, fresh from the box is.
also, be sure you know wether or not the bolts you have came oiled or not, likely if they are an uncoated bolt and came oiled, they should be installed like they are from the box, with that thin film of oil on it.
the difference is, they are different, that is it.
also, just for reference, there are different torque specs for dry, motor oil (30 weight straight), and moly lube when doing engine assembly. all different torque ratings for the same bolt. the same applies for other fasteners, go by what it says... if it says with oil, install with oil, if it doesn't specify, then it's probably dry
edit :
Lubricate the stud threads and the nuts with ARP ULTRA-TORQUE FASTENER
ASSEMBLY LUBRICANT. Then
install the nuts onto the studs and tighten them hand tight.
ARP recommends using the ARP ULTRA-TORQUE
FASTENER ASSEMBLY LUBRICANT that is provided with ea
ch kit as opposed to motor oil. This is due to
higher friction on the studs as well as inconsistencies
in the clamping force of the fasteners when motor
oil or other low quality lubricants are used.
^ from arp's site for instructions to a specific bolt. some contain different instructions depending on what they are, and if you call arp directly you can get the right torque specs for using their fasteners without lubrication as well, they have all the info. just like any repair or service manual should