Just about anything works, at least for a while. A guy at a three day course used vegetable oil on his 1911 just to prove that point.
I've used Weapon Shield on centerfires for years. It was originally FP10 but the formula changed when the company was bought and the orginator (I think is name is George) started WS. He's a shooter and, I believe, an engineer of some sort. There is a technology behind the newer lubes like WS that reportedly leaves a lubricating film ("layer") after the carrier oil evaporates. The gun is extremely easy to clean when I use WS. Just wipe it out. No scrubbing, scraping, etc. That alone is good enough reason for me to use it.
I use One Shot dry lube on rimfires. Really convenient and you don't have to take apart a 10/22 to lube it.
Now let the lube wars begin!!