Here are a couple of reasons why I say NO to anti-seize on wheel studs/lug nuts.
First of all is what happened to me. I applied anti-seize on the bits and thought it'd help combat Wendover locktite effects. After a year or two of the stuff being on there - and I change all four wheels for summer/winter tires -- it was so gummed-up that I had one heck of a time getting them off and on. As some of you may know, it's kinda difficult to use a wire brush on the studs, so I ended up having to get a tap and die to clean the threads. Until then I had to turn up the impact wrench a notch just to spin them loosened nuts off and on.
Okay - I didn't like the results I got from using anti-seize. Now the other reason:
A large majority of the torque applied to a nut/bolt simply overcomes friction - doesn't do any tightening per se. Stipulating that you need to apply 50# torque according to the mfr. - most of that is going to just spin the nut and the rest - the left-over portion - does the stretching/deformation that provides the clamping force itself. It follows that if the friction is way reduced by the lube -- the excess torque will go into deforming the metal of the fasteners beyond the recommended - and very likely towards damage.
Right? So I was taught, many hundreds of years ago, when Dad worked as the midwest sales manager for Premier Industrial in Cleveland - the company that made/makes the Grade 8 "Supertanium" fasteners. Have I been laboring under a misconception all of these years?