This paper presents predictive analysis of load carrying capacity, tractive efficiency and response time of parallel annular discs intervened with a film of lubricant under combined shear and squeeze film motions. This configuration represents operational characteristics of viscous coupling systems. In particular, the case of viscous dampers for tractive torque generation and distribution in all-wheel-drive off-road vehicles is studied. Various forms of lubricant behaviour, from idealised Newtonian to that of non-Newtonian silicone-based fluids and incompressible isothermal electrically conducting couple stress fluids, subjected to a magnetic field are studied (MHD). The solution for the MHD includes combined solution of modified Reynolds equation and Stoke's micro-continuum for couple stress fluids in squeeze and shear with rotational fluid inertia, an approach not hitherto reported in literature.It is shown that in general MHD couple stress fluids enhance the load carrying capacity of the contact and inhibit the incidence of thin films which can result in direct contact of surfaces. Rotational inertia decreases the load carrying capacity, although in general the MHD fluids show better load carrying capacity and tractive efficiency than the other alternatives. However, they exhibit a lower response time under the assumed isothermal condition. Nevertheless, the MHD fluids are best suited to applications in viscous coupling systems because of their controllability.