H2O Soluble--You betcha!
308Win--The case lube I use is RCBS Case Lube-2. It says on the squeeze bottle that it is non-toxic and water-soluble, in plain English.
I wipe it off with denatured alcohol simply because (1) that is an even better solvent for most water-soluble things, and it works just fine for this lube, and (2) with the alcohol I don't have to sweat drying off each case, as it evaporates readily.
The lube kit with the Case Lube-2 was at a gun show a number of years ago, and I don't have any idea how much I paid for it but it must have been a bargain or I'd have left it there.
Before using this kit, I used a very similar RCBS kit with non-water-soluble lube. (RCBS Case Lube-1 perhaps??) That was before I had a brass tumbler. The alcohol got the old lube off, too, but with more of a struggle.
Question for the FL resizers who do not remove the sizing lube: Doesn't the lube then act as a lubricant when the case is fired in the chamber, reducing the case's ability to grip the chamber and seal it, and tremendously increasing the pressure on the bolt of the firearm?