I just started using the powdered Moly Lube.  I purchased two four ounce cans from T.S. Moly Lubricants in Houston, Texas.  The grade of powder I purchased was Fine, and Technical Fine.  You can use either to coat your bullets but I chose both grades to experiment with as a lubricant.  
This stuff works best if you burnish into the metal, which I did with the sears, hammers, triggers and springs on my 1911s.  I also used it on the slides, with one of the pistols being an aluminum framed Colt Commander.  Wherever I saw wear I burnished the lubricant in.  In the end I would say it is very smooth.  Not slick to the point of being able to slip the hammer off the sear but smooooooth.  The Commander had a 4 lb trigger pull on it but you can't tell that now.  The government model was down to three pounds but I'm not so sure anymore, it is so smooth I really can't tell except that it breaks when you want it to.  
I used to use 20-50 motor oil for all my gun lubricating purposes and probably still will even on top of the Moly Lube, especially if I'm going to go out and shoot up a whole bunch of ammo.  
This stuff is like a graphite powder.  I applied it with q-tips and just worked it into every crevase and place where there was wear.  I think it works well, and for the price I paid I sure have a heck of a lot of lube left that will last me for a long time.  Just my 2 cents worth.  Mikey.