You can use it with a non-dynamo wheel. I have one, I built a fork, and I have never used it for goofy reasons. Mostly because I'm slow and intend to get the frame painted some day. I have done quite a bit of riding with a shimano hub in that fork
There are some advantages to just getting a regular hub with the coax connector. That certainly solves most of the problems with the spade lugs. I have sat by the side of the road for more time than I wish to think about waiting for someone to fix the connection with those things.