Abstract: This invention relates to basestocks and base oils with improved low temperature properties and formulated lubricant compositions or functional fluids created by blending at least one such lube basestock with at least one component selected from dispersants, detergents, wear inhibitors, antioxidants, rust inhibitors, demulsifiers, extreme pressure agents, friction modifiers, multifunction additives, viscosity index improvers, pour point depressants, and foam inhibitors. In particular the invention relates to dewaxed lube basestocks having a Free Carbon Index of less than 4.3 and an Epsilon Carbon mole % of less than 14%. Formulated engine oils using such dewaxed basestocks exhibit improved low temperature properties as may be measured by the Mini Rotary Viscometer test.