Originally Posted by Burton

Torque wrenches are available in ft-lbs as well as inch-pounds and there isn`t one that`ll cover every component on the bike. Typically a torque wrench has about a 5% error. Thats 5% of the total range of the wrench so for maximum accuracy you want ones with as narrow a range as possible. Particularly for small items like allen head bolts.

Suggest you pick up a set of metric allen head socket drives in the same size as your wrench if you don`t already have some.

Aside from that - read the owners manual and the service manuals for the components you want to work on. Maximum torques are indicated directly on many modern components, otherwise they`re available in reference documents.

Maximum is maximum and is for torquing dry components unless otherwise indicated. (anti-sieze compounds)
Lubing threaded fasteners calls for caution and reduced torque afterwards. Using graphite pastes is similar. Most components today are precision fit and it doesn`t take a lot to secure them. Doesn`t take a lot to strip alloy either if you get overly enthusiastic.