What's WD40 good for anyway?
Before I installed equipment heaters on my equipment, I used to suffer dreadfull corrosion (rusting) on my equipment. WD40 helped to keep it at bay, the downside being the smell, the messyness. and having to clean the equipment before I could use it.
It's also reasonably good at softening and helping to remove that sticky muckment left behind by labels etc after one has attempted to remove them.
It's also helpful at removing light corrosion from metal objects.
Like Nick though, I would use parafin in preference to WD40 for shifting oily, greasy muck.
I would point out that it can be bought in 5ltr containers: this being much cheaper than the aerosol versions. Mine, bought perhaps 20+ years ago and still going strong, came with a pump operated spray applicator similar to garden sprays. Unfortunately, they don't seem to last that long, but fortunately, the garden spray type fits the same container and work just as well.
Regards,
Peter G. Shaw