I've been using some of the Remington moly-lube (can't remember the exact name, something like that) on my P7M8 for a little while now. It's not exactly graphite, but seems similar. For me the main consideration was the amount of dust that was getting all over the gun when using regular oil, since it's my primary carry piece. Using the dry lube that's not an issue at all. I haven't done enough reliability tests to say for sure, but I did take it out and put 150 rounds or so through it the other day to make sure the lube worked and it certainly appears to.
