I rate the stuff very highly.
I first started using it to protect my sword collection, It seems to evaporate and leave a protecting layer, which in my moist basement keeps all my carbon steel nice and shiny.
I re apply every few months but to be honest have never seen a trace of rust form.
I got my first luger a few months back and the first thing I did was scrub it and oil it with balistol, and some Waffenfet on the slidey bits. The pistol works like swiss watch.