I like Ballistol. It's non petroleum and doesn't gum up. It even works with BP, something that the petro based solvents won't do. The cowboy action BP shooters mix it with water to make their "pigeon milk" concoction.

And, Ballistol won't varnish up or gum up. It does well with leather and wood. Almost a "cure all", snake oil type product... grin

The Germans developed it many years ago, it's been around longer than WD-40.

DF