I would like to see how Ballistol would do in a comparison test. I just started using it a while back, so far I like it. Excellent lubricant, not sure how it is for rust prevention.
I have been using Ballistol on some of my guns and locks for a couple years now. Originally, I was thinking the same as you, using it for frame protection. I have found that it doesn't do well outdoors over the long run. When exposed to moisture, it seems to break down, and rust takes over. I still love it for a lube for guns, locks and electrical connections, but I won't use it on vehicles any more. I just bought internal frame coat from Eastwood, but haven't applied it yet inside the frame. I sprayed some on the outside, and am watching to see what it does over time. If I don't like it, fluid film or Cosmoline will be next on the list.
B