I've tried using cheaper alternatives (such as CRC) and nothing does as good of a job as Deoxit. It's worth it's weight in gold. Not just being a fan boy, it's my honest opinion. Now, the need to add faderlube after every application is questionable though.
You don't need to add Faderlube for every application.
But Faderlube is recommended for pots if you use D5.
I just use D5 for other switches and contacts.
Here's markthefixer's recommendations on use of Deoxit D5, Faderlube, and Gold from the Deoxit Tutorial:
http://www.audiokarma.org/forums/showpost.php?p=3693359&postcount=117
Generally he says if you use Deoxit D5 on pots, follow up with Faderlube to renew lubrication. If you can afford it, use Gold for preventive maintenance to slow subsequent corrosion.
Myself, I supplement Deoxit by using Puretronics Extra Strength on the boards and contacts. 13.5 oz for $5.99. I save Deoxit/Faderlube for the main switches and controls.
Some will use Deoxit 100 or Faderlube only on pots because of the safety concerns of some pots. There are threads which claim possible damage to some vintage Sherwood volume controls.
And Faderlube has been recommended for use on sliders like those on equalizers.
The sponsor thing may be why I got yelled at. I originally came up with the idea on an amp with faders that were open to the air and horribly dirty. Numerous doses of Deoxit 100 was not working; so I flushed the faders with alcohol and then Deoxited the fader. That worked and stayed working. You two are the first people to acknowledge my comments about this.
In any of my Deoxit posts, I always mention D100 as an option actually because of your previous posts. It's just not as readily available locally as Faderlube or even D5 so I do mention the other common formulas I am familiar with.
I have had no problems with Faderlube on sliders. Since I always have Faderlube on hand, I don't bother with DIY mixes.