Well, er, ah, actually I have never used oil/PTFE products for corrosion protection. As they are lubricants. True, some lubricants can protect from corrosion/oxidation, but this is not their primary function. The problem is that the film of a typical oil/PTFE product has so much surface tension that it can't penetrate enough to bond with the metal. Rusting under an oil film is not something new, I believe Col. Askins addressed it in the 1930's.
That is what FTFC (Fluid Thin Film Coating) are all about. These are probably better known as Corrosion-X and Tuf-cloth/glide. Actually Dry Film Lubricant and Protectant is the term that Sentry (Tuf-) uses.
However, both the Corrosion-X and Sentry products work in the same fashion, to the best of my knowledge. They are very low surface tension liquids that seep everywhere, and quickly dry to a dry film, which is barely noticable.
The surface tension and ability to bond with the metal is so good that the product will actually go UNDER rust and corrosion, and bond with the undamaged steel underneath.
By all means, check it out for yourself:
Each company makes a variety of products; however be aware that you are paying for the container. Discount Knives has the liquid Sentry product Tuf-Glide for about $6 for 1/2 oz., but 8 oz. costs about $15! That is sixteen times as much for about twice the price. Now, you may need one of the small containers for application, as it has a long, steel hypodermic needle-like applicator, but you can sure refill it from the big bottle. Check it out:
Other things I do for long term storage of knives and guns is use VCI (Vapor Corrosion Inhibitor); this is most convenient in the Bianchi Blue bags, which are heavy mil plastic bags with zip tops, and the inner surface has VCI on it. This produces a harmless corrosion protecting vapor, so it gets everywhere. These bags are available from the mail places such as Dillon and Midway Arms.
If you are a real obsessive compulsive person, you toss a couple of silica gel moisture absorbant cans inside your airtight container as well.
Hope this helps, Walt Welch