I was extremely curious about this stuff because of the hype so I took FL to work and broke it down, both paste and spray. The difference between the two is minimal just more of two ingredients which makes it thick. While I won't give away the ingredients I am sure most people have ~90% of it in their house today.
It is biodegradable, except for the slight traces of pesticides due to the nature of the ingredients. However just because something is biodegradable, does not mean it can be consumed or exposed in large quantities. I would still use gloves when applying. An example of something that is biodegradable/organic is isopropyl alcohol (rubbing alcohol) however over exposure to isopropyl alcohol has nasty side effects. And for people saying they would eat FL, I would not advise it. Have an apple instead, healthier for you.
FL does work in short usages for firearms, anything under 1000 rounds, before reapplying. It prevents dust and things from collecting on the weapon, which is its main benefit because it helps keep corrosive materials from staying around, just like what happens when you wax your car. The waxing part is what allows it to last as long as it does because it fills in pores and lube is released when the firearm gets hot. Overall Teflon or HBN will last much longer but is not as "green" as FL. Depending on your humidity FL may not do so well long term to prevent rust.
Price: I would say a small 4oz bottle is about $0.50 of materials, being very generous, and the labor to make it is maybe $0.50. Even if they spend crazy amounts on marketing and if they decided to use more exotic materials they are still making at least 60-80% margin on it. But that's what is great about capitalism! Make something and market it right and you can have a good income.
As for my preferences, I will use a HBN product for lube because I have longer shooting needs and don't clean often enough to prevent rust with just FL. I do like the wax affects and will use FL or similar source ingredients on my firearms now after a good bare metal cleaner. I am currently experimenting with both a FL (similar), base and a HBN lube. The combination, while not as "green", provides an amazing long lasting and easy to clean firearm lube.
To sum it up, once again, use what you want/prefer. I personally wouldn't buy anymore FL, too expensive for large quantities, but I will use some similar base ingredients along with other lubes.
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Last edited by darthnugget; 01-27-2013 at 7:05 PM..