it is my understanding that if the rules call for factory ammo that includes the lube - just food for thought - u have a good day now - the rimfire

I suspect that while lube may be a big factor the thing that makes cheap ammo cheap is the QC observed in its MFG.  Premium RF ammo is simply made to tighter specs. amybe done on slower speed tighter tolerance production machine.  Core wire cut with more precision, cases selected for consistant weight and volumne etc.
The stuff that the QC people grade best/most consistant goes in the higher priced boxes and will have more consistant velocity, SD etc etc etc.  There may be some that is built to specific speeds fo specific purposes,  maybe a faster powder in the stuff designed for target pistols etc.   I'd guess that except for special loads---like cold weather ammo for the biathalon shooters---most mfgs use the same sheep dip on all their ammo--within their brand, but the amount on a given bullet is part of the QC final inspection, too much or too little and it goes into the cheaper practice ammo boxes.

I seriously doubt that hand dipping t-22s or wildcats is going to turn them into match winners.  but what the heck maybe its worth an experiment.
  But like rimfire says the ASSRA rules call for "factory" ammo for 22rf competition in our matches--I don;t recall but it may actually say "unaltered factory ammo"--not sure about that