Jerry, when I worked in the Sailboat field designing virtually everything (keels, rudders, shaft assemblies, rigging, plumbing) we never used grease on the propeller shafts.
Some people wanted to pay big bucks for Monel as I recall, since it was a premium product developed for the Navy, if I remember right. Everyone use sacrificial Zinc anodes on the propeller shaft and the bottom cleaning guys would replace them as needed.
Then in the late 60s a company came up with a version of SS that was more resistant to crevice crack corrosion and production boat builders immediately switche to it as a cost effective and good option.
It was well known however that if you put a fastener through objects underwater and sealed it up with Polyurethane sealant, that you risked eventual corrosion where there was no water flow, which has the Oxygen needed to keep the Chromium Oxide layer on the Stainless Steel. Hence the desire to have grades of metals not subject to fast crevice crack corrosion.
Worse than crevice crack corrosion was actual galvanic corrosion from dissimilar metals or metal grades and worst of all, an electrical leak that ran from boat to marina, or boat to boat out through a shaft or through-hull fitting which could destroy a fitting in a few days and sink a boat.
Those were interesting times.
Bo