No I've never heard a squeak coming from the wheel with an over tightened nut. I'll take your word for it.
If it was essential cars would come with a torque wrench for changing wheels.
In an ideal world a torque wrench would be most accurate but like I said the length of the tyre iron is proportional to the torque requirement.
Low torque, short tyre iron.
Higher torque longer tyre iron.
Telling people they need a Torque wrench to change a tyre is incorrect.