I've been using a homemade gun grease made from Vaseline and WD40. The WD40 basically thins the mixture out and gets rid of the stickiness of the pure Vaseline. I mainly use it for rust protection but it also performs the lubrication functions on my firearms (I just wipe off the coating that I put on before storage). I have bolt action rifles and a 9mm Star Super B pistol and this level of lubrication seems to work.

The mixture is seasonally dependant ie I use a thicker mixture in summer (more Vaseline), it can be adjusted by adding more of either component. I usually just mix it in a small jar and add either Vaseline or WD40 until it feels about right - I've never really worked out what the ration would be.