BB has it's place...
I use it it one application only. I use a pre-saturated BB ball patch when loading a traditional BP long gun. T/C sells them (item # 7003). Or, you can simply make your own with your favorite patch. It does indeed make an excellent ball/patch lube.
I agree with Hawg in that it does get runny in high heat conditions, also almost too hard to work with when it's really cold. It is a non-petroleum product which is good. In my personal experience with BP, non-petroleum products are more friendly with BP. I personally would not use it as a long term anti-rust preventative.
IMHO Ballisol is much better for crappy weather and for long term storage. It also is not a petroleum product. It emulsifies with water. (It mixes with, rather than separates). I keep a can in my truck, barn and with my guns. I also keep it with me in the brush in an empty Visiene bottle. Ya don't need much. Works awesome on metal, wood, leather, fishing gear, rifle bolts, semi-auto rifle and shotgun actions. I also use it on padlocks to keep them from freezing.
Just my .02 as usual and all the best,
Birch