If it's a marine, bearing or all purpose grease it should be fine. Just be sure it's not a specialty grease designed for a different purpose (cable lubrication and corrosion resistance come to mind in marine environments).
I've been using lubriplate 1200-2 for years now...only because I acquired a case when I left the ski area. It's the grease we used on sheave's, pivot's and such on ski lifts. It's water proof, has a wide range of operating temperatures and holds up great. My hubs have probably seen over 100k with it and all I've ever done was tear apart, repack and reseal them(just peace of mind maintenance every few years). Last year I lost a seal and got dirt inside so I replaced all my parts in one hub but that wasn't the grease's fault. Now that I'm used to it I'll probably never switch to something else, but I really don't think the specific grease really makes a difference as long as it's appropriate for use in wheel bearings and you ensure there's the proper amount in your hubs.
oh yeah 1200-2 is a white lithium grease, for whatever that's worth.
Yesterday's gone on down the river and you can't get it back. - Agustus McCrae