I searched and only found this mentioned a few times and one of those was a formed banned member saying its bad for the gun and would harm the finish.

If it would harm the guns finish why would it be marketed as a GUN OIL? Not to mention why would my local gun shop use it exclusively on the guns they have both brand new and used?
This stuff was invented in Germany back 1904 for the German army, you know the same people who were using the Lugers when they were brand spanking new so obviously it didn't harm the gun's finish as I'd be willing to bet a pay check that most of our guns have seen it used on them a long long time ago.
But I'm always interested in what the experts would say thats why I'm asking and posting the links about it. So what say you Luger experts s this stuff ok/good to use
http://www.ballistol.com/
http://www.firehawktech.com/Ballistol/firearms.html