3-in-1 is just a lightweight lubricating oil used on everything from sewing machines to fishing reels to squeeky door hinges. It does give a nice sheen to a gun and probably inhibits rust. But it is also slow evaporating which attracts and holds dust, which in turn can hold moisture and/or make the gun nasty to handle after it has been stored for a while. For a gun that is handled and used regularly it probably is a suitable gun oil. Frequent wipe downs will keep a 3-in-1 treated gun looking OK, just keep it off the grips.
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If it's made after 1918...it's a reproduction
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