Products developed for use in the aerospace industry often translate very well to cycling and this is no exception. This is not a PTFE-based water displacer, rather it is designed to form an atmospheric seal against the elements which, it claims, remains effective for 12 months and kills corrosion on contact.
I applied a light application to a pair of SPD cleats sporting some surface corrosion. From the nozzle, ACF-50 is pinkish purple, but within a few minutes the mixture settles to a neutral hue and I was amazed to find the dirty brown corrosion on the cleats had apparently neutralised to a matt black.
While far thicker in viscosity than water displacement sprays, it lends itself better to corrosion prevention than lubrication, so isn't really a chain lube. But I have every confidence that, reapplied twice yearly, it should minimise chances of internal corrosion in frames, trailers and racks, and eliminate the need to drill out corroded SPD shoe fittings - even on bikes living in coastal regions.
Although £12 for a 369g aerosol might not seem particularly cheap, a little seems to go a long way.