I tried it today for the first time, 2 parts water mixed with 1 part ballistol.
Usually when i finish shooting i give everything a spray of WD40 and wrap it in a towel until i get home.
Today everything got a good spray and almost immediately the black powder residue starting to drip out of the barrel and cylinder, it definitely wants to shift it.
Got home and rather than the usual hot water scrub i just kept spraying the mix and scrubbing, it cleaned really well and the water evaporates and it leaves more if a wax finish, i rubbed it over with neat ballistol to finish and that dried to a very light waxy finish, almost like renaissance wax.
Nicer than oil if your going to shoot it again soon but i would rather use oil if it was going away for longer.
I think i will stick with it for a while and see how it goes but it does look good for shifting the BP gunk.