Don't dis the WD...lol...I love the stuff and have many, many cans of it in my work shop...thanks to my job it's free...I would use it to clean a knife without a hesitation, especially if the knife had say pine resin on it. The WD eats through that kind of stuff. It also doesn't leave a residue so it is very easy to wipe off.
When lubing my folding knives, assisted opening included, rather than use the applicator I put a tiny bit of Blue Lube on my finger tip and rub it between my finger tip and thumb then using those fingers coat the washer/bushings. I also do the same to the blade and liners where they all meet. It keeps the lube at a minimum and only where needed. Prior to this I use a piece of cloth that has honing oil on it to clean all the parts of the knife to remove grit, etc. then wipe with a clean dry cloth...yep pretty anal about my knives and pretty much everything else I own...maybe that's why I have stuff that is decades old, sees hard use but still looks fairly new and works like new.