Oils/products for keeping tools in good condition?

[KL27x]

- keeping rust from metal parts
- polishing gunshafts
- lubricate delicate parts (sewing machine ...)

That curiously describes every petro oil. Well, other than the "polishing gunshafts." I'm not sure what a gunshaft is, lol.

- in the food industry (nontoxic)

If it's foodsafe, you can bet it's mineral oil in an aerosol can.

*I don't know that Ballistol is food-safe. MSDS says it is non-poisonous, which is not the same thing.
"Ballistol contains medicinal grade mineral oil, alkaline salts of oleic acid, several alcohols, Benzyl Acetate and an oil
from vegetal seeds. The mineral oil is unchlorinated and conforms to the specifications of US Pharmacopeia XX."
There's also isohexane as a thinner in the aerosol variant, 14% of the product. This is not something you want to intentionally ingest.

And other tests got different results. When it comes to this kind of stuff everybody has a favorite that they swear by.

I find it curious how many tests there are between these various products without some known quantity as a control. Comparing snake oil to snake oil, the winner is very unsurprisingly going to be snake oil. Ed's Red, I suppose is generic, but even ATF is... well what is ATF? Add something in there that is generic. Like mineral oil or, heck, cooking oil. Canola, peanut, sunflower. Take your pic.

[Jwillis]

I don't like oily tools for hobbies or electronics because dust sticks to them and get messy and dirty.My mechanic tools are oily anyway from just use.But if I put them in storage I just use some ATF .It's worked just fine for years.For Air tools I use the proper air tool oil because it dosn't build up and get gummy.Over the years I find diesel works just as well as a penetrating oil for rusty bolts or seized tools as anything else.Copper coat to prevent re seizing. For extremely seized bolts nothing works better than a oxy-acetylene torch.I have  used WD-40 as a quick fix for engine distributors that have been exposed to moisture or fogging small engines for storage but I don't keep it around much. Graphite spray for door locks because it dries and dosn't collect dust.Most other on the shelf specialty lubricants , anti seize compounds and additives may as well stay there on the shelf.I've tried just about all of them and they're simply not worth the money.What I found was to be careful using engine oil or gear oil on plastic or rubber parts.Petroleum based oils can soften some plastics and swell some rubber parts. For instance, pouring engine oil,ATF or any thing other than brake fluid into your brake system will destroy it completely.
I know this isn't an automotive forum just my 2 bits of experience.     

[helius]

*I don't know that Ballistol is food-safe. MSDS says it is non-poisonous, which is not the same thing.

Cleaning and lubricating products are not supposed to be added to food, but they can be approved for use in facilities and machines that process food. This is called an NSF rating, and it means that the residues that may be incidentally transferred to food (depending on the class of rating) are not dangerous. Remember, the dose makes the poison.

"Ballistol contains medicinal grade mineral oil, alkaline salts of oleic acid, several alcohols, Benzyl Acetate and an oil
from vegetal seeds. The mineral oil is unchlorinated and conforms to the specifications of US Pharmacopeia XX."
There's also isohexane as a thinner in the aerosol variant, 14% of the product. This is not something you want to intentionally ingest.

Isohexane, acetone, isopropyl alcohol, and methanol are not safe to ingest directly, but residues in the ppm range pose no danger to health.