In reply to icestorm: I've used various lubes in the past (ooh eer mrs...)
My Grandad used to get some stuff from Rolls Royce when he worked there - TRICK was all he ever called it. It was the most amazing lube there was! It'd penetrate any threads no matter how tight the nut/bolt was. No idea of its proper name though. WD40 and the like do lubricate but they have the disadvantage of washing off other lubes, for example, use it on a bike chain, it'll clean and lube for a while but it has washed away the greese in the bearings and dirt will get in and trash the rollers eventually. A good alternative to WD40 is 'son of a gun' dashboard shine stuff. Its silicone based and fishermen have used it for years to lubricate pole elastics. Its far far cheaper than the PTFE 'proper' stuff and as its silicone based it doesn't damage the elastics the pole uses. Locksmiths use graphite lube as no sticky residue is left. Think about it, sticky greese on a key, key in pocket, dirt sticks to key, dirt transfered to the lock and then causes further problems. To lube a lock, use the 'lead' from a pencil if you don't have proper graphite powered lube.
For cams, i wash in water using a toothbrush to get all the crud out and when dry use a tiny amount of silicone based lube, 'son of a gun' / 'amour-all' and the like.
Each to their own. Do what manufacturers say if you want. If I ask ford what oil i need for my car, whats the betting they'll say "only use ford oil"??
PS
WD40 is great for disolving tar spots off car bodies!