Should be fine on wheel and steering bearings if you check them often. I use Bel Ray blue, but no grease will be able to do it's job for very long under the conditions that wheel bearings see.
If you're talking about swingarm bearings then spend the money for Jet Lube moly (recommended by member GMP). It's the best thing I've ever bought for a bike. There's nothing worse than messing with a smoked swingarm hinge, imo.
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