I'll tell you part of the reason I'm so hung up on Ballistol. The stuff is simply amazing in the variety of things that it does well.
Of course I use it as a patch lube, mixed with 5-7 parts water, sprayed on patches, then allowed to dry. I also use the same Ballistol/water mix as a black powder solvent. I use it straight as a solvent and lube for modern guns. It keeps my Ruger 22/45 running cleaner and longer than anything else I've tried.
I use it to oil leather and wood. In fact, it works better than Lexol on leather. Mixed in water, it works better than Armorall on tires and dash. I used it mixed with water as car "wax" to see if it would remove a patch of oxidation that was forming on my roof. It did, and looked great!
I use it as honing oil, and mixed with water as machining fluid. Works better than dedicated products made for the purpose. It'll do anything WD-40 will do, and in most cases, better, such as displacing water, or removing road tar or label adhesive.
Oddly enough, it's about the best thing I've found for putting on scrapes and scratches (it's non toxic and was originally used for medical purposes too) and they heal faster because they don't scab up, and heal from the bottom up.
I'm forgetting a bunch of other uses too.
No, I don't sell it or own stock in the company! LOL