Can't comment of the Hornady Conicals, still have the first box I bought nearly 20 years ago.....

The lube on a ML'r bullet is there to keep the fouling left in the bore after a shotas soft as possible so that loading the next shot and fireing it basically removes some of the fouling from the previous shot. I don't shoot conicals in ML'rs that much but I shoot them in cartridge rifles and pistols with black powder. The cowboy action folks shooting BP are using a "Big Groove" bullet that holds a ton of lube, I use them and I can tell you that fouling is greatly reduced with all the extra lube. I've also noticed that the more lube I stuff on top of a ball in a cap-n-ball revolver, the cleaner the bore stays...

Doug