I like to use Superlube Synthetic Lubricant Spray-I believe it is made by 3M, on the back of the can it says you can use it for sail tracs. You can buy it at Lowes, I think it was about 6 dollars, one can should last several seasons.
I have also used Fastrac sail lubricant-which your Hobie dealer should carry, I do not like it as well because it is messy and gets everywhere except where you want it to go.
Forget buying line at Wal-Mart- pay the extra for the good line and you won't have any trouble,with it, as long as you don't leave it out in the weather line should last for a few seasons.
Happy Sailing!
banannahead