Somewhere in the lands of Slowtwitch or in the old Friction Facts reports, there is a comparison of chain lubes, including typical factory lube. But, I could not find it. I believe that factory lube is slower than the good aftermarket dyno lubes, and dyno lubes are slower than wax by 1-2 watts. I am not sure how much slower the factory grease is, but it may be another few watts. So, you are probably looking at a net savings of 5+ watts by stripping the factory grease and going with wax.

Other than friction, the new drip wax lubes are fabulously easy to maintain. They do not get gunky and they do not chain tat you nearly as badly as any grease lube. The only downside is that they need more frequently re-lubing than grease. But, the drip lubes make that super easy.