OK, I'll give you two data points, but I haven't reached any conclusions.
1. Ballistol is what SIGArms Academy is using for cleaning and lubing. That's a pretty good number of shooters, so maybe there's something there.
2. Due to some very complicated semi-emergency circumstances this winter, I had to store some firearms, including some repro flintlocks with bright metal, in an unheated building this winter. I knew, when I did this, that in our climate condensation is a fact of life and metal rusts in this unheated building during the winter. Had no choice. I took a chance and coated everything with Ballistol, including the wood next to all metal surfaces. (I used a hand sprayer and applied with my hands, in a fairly thick coat.) The first piece of good news was that none of the metal showed any signs of corrosion at all after 8 weeks. The second piece of good news was that none of the stocks showed any signs of having had a "chemical" on them, unlike what usually happens when you get a petroleum-based product on wood (darkens wood, sometimes harms finish).
I have not really tried to evaluate it as a cleaner or as a lubricant. I will say that as a preservative it passed a pretty harsh real-world test. I am continuing to experiment...would be interested to hear from others.
