Personally, I think it ?might? makes for match rifle barrels, but way to much work for the amount of payback for a general use pistol. Quick test would be to do this on a rifle barrel: take a baseline temp of the barrel surface, fire 10 or 15 round groups x5- take a temp after each group.
Same gun, clean and treat barrel, repeat test-- see if there is a temperature behavior difference, overall, or slope of change. Truly if there was a reduction in barrel "friction", you can see the results immediately. If the numbers prove worthwhile, then go to chrono.
Race engine, that is a different story-- I'm seriously considering this for my LS engine, my only concern is clumping, and dispersion, ie caking into a corner or galley crevice, or blocking oil flow somewhere- which I think was a problem with teflon additives. I am already running Mobil1 15w50. Certainly the paste I can use on the brake pins.
Dissolving the powder into a volatile liquid (hydrophobic is best) before pouring into the crankcase (to get it into the oil) is a great idea. Now what volatile liquid won't react or breakdown the engine oil?