For side rods, crankpins, sliding valve gear parts... I think it works well, and yes, I am referring to
Neolube, which is graphite in alcohol, but I suppose you could try lock lubricants or "Grease em" too.
But on gears.... no. Even assuming you conduct a few experiments, where you get the gears all shiny
clean by washing them all out in alcohol and put the mechanism back together, ...
not that I've tried this or anything
cough cough, nudge nudge.
It seems to me that at first, the wash of neolube did great things. But after it all dries out, it
does leave a pretty firm coating of hardened graphite, almost like a shell coating the gears.
It is not as slippery as you think it would be, and it also adds thickness to the teeth and surfaces.
Even on a relatively open and "sloppy" fitting gear mesh like Trix K4 (cough cough), it
causes more binding.
Whether puffs of powdered graphite would work better, I don't know. But it doesn't seem to me that it would.
Metal to metal gears, I think, really need a coating of oil to work right, and on slippery plastic gears, I try never
to use anything at all.