I was once a WD-40 addict, but have seen the error of my ways. I still use it but only for things that get wet, like tools after working on plumbing.
Nothing wrong with 3-in-1 as a mechanical lubricant for gross machinery. But for "fine" machinery it will gum up in a short period of time.
My dad had a saying, "Never use oil on clocks or locks." I extend that to mean "everyday oil" on 'lockworks".
BTB, for those wondering how to get rid of squeaky hinges, use a silicone spray. Will last as long and won't attracts dust and dirt.