"The only reason I thought of it was because when you install spark plug wires you dab a bit on the electrical connections prior to installing them."
I know that a lot of people do this but its not really a good thing to do. You don't want to but a grease that's job is not to conduct electricity between to conductors. Your getting away with it because electricity is still managing to flow, in spite of the grease. The grease is used to stop corrosion and deterioration of electrical contacts. Make the contact first and then seal it with dielectric grease. When you do it that way, it works just like a regular piece of wire with a solid dielectric. Please keep in mind here that I am talking about using dielectric grease on cars, not audio equipment. Don't use it on audio gear. (Unless you get the stuff made specifically for high end audio applications.)