I am a relatively recent convert to Ballistol.
One of its primary attractions for me is its benign chemical composition. I have seen other folks claiming that it is safe for polymer (and I can't imagine that they are wrong), but I cannot find substantiation on their website.
Here is one paragraph:
User Safety & the Environment
Most general lubricants and corrosion inhibitors and most gun oils and gun cleaners contain rather aggressive chemicals. They contain substances such as Teflon (PTFE), silicone, tar, trichloroethane or tetrachloroethylene, which are all listed cancer causing agents. Or they contain petroleum, kerosene, benzene or chlorinated paraffins, all of which are toxic ('harmful or fatal if swallowed') for warm-blooded organisms and fish. Some are 'skin and eye irritants'. Others emit toxic vapors. Very few are biodegradable. Ballistol does not contain anything known to cause cancer. Ballistol is non-toxic for warm-blooded and aquatic organisms. Ballistol meets the criteria of the Federal Trade Commission for the claim of biodegradability and Ballistol sprays do not contain any CFCs.
If you poke around on their website, you'll find some interesting information about Ballistol. The section on "Vehicles" is fairly packed with uses. Water in your gas tank? Ballistol. Fuel additive or octane booster? Ballistol. Clean your dashboard? Ballistol. Mousetrap bait? Ballistol. Keep your razor blades sharper? Ballistol.
It is almost humorous how useful the stuff seems to be.
http://www.firehawktech.com/Ballistol/index.html
Have fun!
Monty