Reynolds 

I've been using it and it seems to work OK. What do you think?

NVFlinch 

I've used it for both mtn and road bike chains, and stopped due to the amount of crud it attracted. Seemed to work OK for friction, but grabbed the grit.
Dumond Tech now.

dmark 

No.
While it does lube a bit it is hydraulic fluid not made for lubrication; and it smells bad.

Eric F 

What is a “general purpose bike oil”? This implies that there are multiple places on a bicycle to use oil. Besides the chain, where else are you putting it?

Personally, I’ve moved away from oil-based chain lube.

Reynolds 

Cables, brake lever pivots, brake pivots, derailleur pivots, kickstand pivots, nipples when wheelbuilding, threads in general / under bolt heads and nuts when assembling... etc.

Eric F 

No

A high-quality synthetic grease is a better choice for most of those parts. For others, oil-based lubes just attract grit.

PromptCritical 

Dry graphite lubes are also good for some of those applications and they come in spray form as do some synthetic greases that Eric F suggests.

Duragrouch

Not that I'm endorsing ATF as bike lube, but it's both hydraulic fluid and lube. I had a GM car with a manual transmission and it used Dexron ATF as lube, possibly for line standardization, as planetary gear automatics have gears in them requiring gear lube; so they must have figured it was easier to use ATF in the manuals than use gear lube in the automatics. Also, both engine oil and transmission lubes were beginning to go lighter weight at that time, for reduced friction. Better engine manufacturing tolerances made that possible for engine oil without low oil pressure. Manual transmission design and tolerances were also improving.

Garthr

I've used it as I'm one apt to try things for the experience. It works as well as any other oil based lube, and the key with any oil based lube is wiping it down after every ride, plus the rings and cogs. I put some in a small clear drip bottle, but don't remember if I diluted it with some mineral spirits or not. I think I did though, but how much I don't recall, doh ! Yes it attracts crud if left to accumulate, so don't let the lube that is expelled from the chain accumulate. I ride on the road, no muddy or sandy conditions around here. I "clean" the chain on the bike with some bulk from the can WD-40 by dripping it on and wiping 'till relatively clean. Reapply the ATF, wipe as dry as I can at that time.

I really resisted using heavier oils on the bike because as I grew older, I read so many negatives about it attracting dirt and thus ruining drivetrains. I bought it hook, line and s(t)inker So I used all manners of the usual speciality thin lubes because they supposed to be "better". Better for who ? The ones selling it of course. At some point I just started using some heavier oild to find out for myself. Air tool oil works just fine also. I ran across some post of people using ATF fluid, so I tried that too. I used Chain-L too, which is heavier and sticky-er, but like any oil frequent wipe downs keep dirt from accumlating. I suppose most any oil intended for moving parts will work okay with wipe downs. I won't pretend any lube(even wax) is some miracle, because it's not. Everyone uses what they can live with. A "miracle" would be a chain is self-lubricated and lasts forever, always clean and fresh.

Duragrouch

(above) Road biking only, environmental dust contamination of oils has never been the issue; It gets pasty after a month of long daily rides, due to fine chain metal powder forming a colloid suspended in the oil. Doesn't matter if ATF, 75W-90 gear lube, motor oil, 3-in-1 oil. All eventually paste up the same, then I clean off with on-bike cleaner with mineral oil as solvent, wipe dry, relube. Planning to switch back to wax as I used decades ago on my pristine road bike.

Ironfish653

I’ve used ATF for certain applications on some of the bikes; I primarily used it to soak the stiff, slightly rusted chains on used bikes that I was reconditioning for sale. It definitely made them run quieter (mostly old 5-7sp bikes) and kept the chain in a decent state, even if they sat in storage for a few months before they got sold.

I started doing the same with the kids’ bikes and the “loaner” beach cruiser and townie, since they often get pulled out at random, after they’ve been sitting for a while.

I don’t use it for things like brake pivots and DRs, since it seems to like to spread out in to a thin, sticky film on flat surfaces. I like a spray white grease for that kind of application. Blue grease, too, particularly for things that would need to be disassembled to re-lube, like jockey wheels and canti pivots, since it stays where you put it, and it lasts

My regular “sporting” bikes (road and MTB) get much more frequent pre- and post-ride service and inspection, so they get lighter, high performance lubes like White Lightning and “dry” PTFE (mostly because it keeps it cleaner during the ride)

Russ Roth

I was building a donated bike yesterday and the owner must have thought the way you did, the tires had barely any wear but the level of gunk on the chain ruined 2 rags. I moved away from finishline's regular wet lube because even that seemed to thick and messy, to a couple of thin ones that have always worked great and kept it cleaner. Now I use wax for the chain, easier on the clothing or leg if you touch the chain. I finished putting together my kid's bike and she immediately asked me if "I did that thing with the chain where it doesn't make a mess." Thin lubes are just better at creeping into tight areas to loosen things up which is the other part. Little stiction in a cable, dripping lube on the cable lets it slide into the housing to let it slide better. Same with pivot points and then easier to wipe off excess to attract new dirt to the now moving part.

OP: ATF, get full synthetic, it isn't much more and doesn't smell the same way, it is good for internally geared hubs. Otherwise, most of the things you mentioned are best dealt with using a lithium grease or a graphite lube.

cyccommute 

None of those items need lubrication for more than a couple of times over a decades lifetime of the bicycle. If cables need lubrication, they most likely need replacement. Brake pivots never really need service and pouring oil over them is likely to exacerbate any issues you have with them by attracting dirt. Same with derailer pivots. Kickstands don’t need anything done to them and will work for decades (maybe a millennia or two) without doing anything to them. Nipples on wheels do need oil but a lighter oil will do the job better. Threads should be greased which is semisolid vs liquid like automatic transmission fluid.

I’ve worked on bikes that were drenched in either ATF or motor oil. It’s never a pleasant task. The bike below even had oily dirt on the grips, shifters and brake levers. It’s like they just opened a can of 10-40W and poured it over the bike.

Steel Charlie

Puhleeezzz ! ! It's the 21st Century, dude ! ! You have the advantage of a multitude of task specific lubricants and you use TRANSMISSION lube on your bike ? ! ?

smd4

It always amuses me that people who spend $5,000 on a bike can't crack their wallets open for a $5.00 bottle of Tri Flow.

Reynolds 

Looks like a strawman... I never said I submersed my bikes in ATF! 😄

Reynolds 

Ok, apparently ATF isn't too well liked around here. Maybe I try to oversimplify things - if the trend toward super specific lubes goes on, soon you'll get a RD pivot grease and a FD pivot grease.

smd4

So?

You couldn't get grease into derailleur pivots anyway.

pdlamb

Haven't seen one of those bottles lately.

smd4

Tri Flow

cb400bill

Tri-Flow PtFE Lubricant, Non Aerosol, Bottle, 2 Oz. TF21010 | Zoro

Iride01 

I think you'll find that the bikes requirements for oil really don't care what oil you use. There'll likely be good and bad points to all and you just have to decide what you'll put up with.

If you are willing to put up with any of the drawbacks to others for that oil, then it's fine. Nothing on a bike turns at the speeds engines that use the same grade bearings. Nor does anything on a bike create the heat to destroy the surfaces needing any special lubrication that does a combustion engine. Or heat up from the efficiency loss of power transfer or simply from friction.

However I too think that mostly the only part that needs oil is the chain. And that doesn't have to be petroleum based products.

As mentioned by another, when you get to putting oil on cables and other things on a bike, you are already in need of new soon. Especially if you oil them before they show that need. If we are just talking about wiping some oil as a preservative on cables where they run bare or other places, then not so much a issue than if you drip oil into the cable housing. But with modern cables and housings you shouldn't need too ever. At least for the common environmental conditions bikes are operated in. Perhaps on a old bike with regular steel cables that rust you might eek out some more life from them.

squirtdad

I simply don't understand the constant search for alternatives to simple cost effective, proven bike focused lubricants

All you need is tri-flow, a tube of phils waterproof grease, Phills tenacious oil (drip into freewheels), your choice of chain lube (Silca super secret liquid is my new go to)

add a penetrating olil for recalcitrant parts (I like Freeze off) and wd40 is not a penetrating oil

50/50 ATF/Acetone is a great penetrant though if you are dealing in high volume

slow rollin

I like using atf+acetone to loosen up derailleur pivots without removal and other pivots. Yes it may be wrong but I have a stash of the stuff from long gone cars, and all cars take weird atf variations now-a-days. IMO just try it out, if you don't like it go use something else. Oh, and I used gear oil in my freewheel. Maybe an evil play but it works nice and I don't mind the smell.
Admittedly my last bike was 40usd and I ride and use sub-optimal equipment/lubrication.

dmark 

Machinest's Workshop did a comparison of thread penetration with ATF/acetone, liquid wrench, PB blaster and Kroil and the ATF/acetone mix required the least torque to loosen.
Summary here:
https://www.rx8club.com/attachments/series-i-tech-garage-22/202003d1398023610-machinists-workshop-penetrating-oils-test-machinists-workshop-penetrating-oils-article0001.pdf